Donald Trump’s protectionist stance is bad news for India; recruitment is slowing down
Advertisement
IT companies have become careful after US President Donald Trump’s protectionist stance.
The Trump effect has shadowed hiring in B-schools and IT companies, which are generally largest recruiters in management schools, have slashed hiring.
This placement season saw a considerable drop in IT recruitment, especially in tier I and II cities. The drop has been reported by 20-40%.
For instance, IT hiring slid down by 26% at Management Development Institute (MDI), Gurgaon.
"Consulting remains relatively stable but it's the back-end roles that have been hit hard. Infosys and Accenture are among those that have cut numbers at MDI, while IBM did not come for final placements," MDI placements chairperson Kanwal Kapil told ET.
As per reports, Infosys took just 13 people from one business schools as compared with 40 last year. Even Dell hired three against five and Wipro recruited five compared with nine last time.
"We are expecting at least 30 per cent less hiring in IT as compared with last year," Saveeta Mohanty, associate dean for career advisory services at Xavier Institute of Management, Bhubaneswar (XIMB), told ET.
As per Top Recruiters survey 2016, six of the top 10 recruiters by numbers across 26 B-schools were from the technology space during last placement season.
ET reported on January 17 that Infosys and TCS will hire more engineers from campuses in the US as they brace themselves for stringent visa norms under the new administration. Among Trump's top election pledges were restricting immigration and bringing jobs back home.
Apart from Trump, another factor is automation, which is going to eat up several jobs.
An Infosys spokesperson, however, told ET: "Hiring from US may not have a substantial impact on the recruitment numbers in India."
(Image: Thinkstock)
Advertisement
The Trump effect has shadowed hiring in B-schools and IT companies, which are generally largest recruiters in management schools, have slashed hiring.
This placement season saw a considerable drop in IT recruitment, especially in tier I and II cities. The drop has been reported by 20-40%.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
"Consulting remains relatively stable but it's the back-end roles that have been hit hard. Infosys and Accenture are among those that have cut numbers at MDI, while IBM did not come for final placements," MDI placements chairperson Kanwal Kapil told ET.
Advertisement
"We are expecting at least 30 per cent less hiring in IT as compared with last year," Saveeta Mohanty, associate dean for career advisory services at Xavier Institute of Management, Bhubaneswar (XIMB), told ET.
As per Top Recruiters survey 2016, six of the top 10 recruiters by numbers across 26 B-schools were from the technology space during last placement season.
ET reported on January 17 that Infosys and TCS will hire more engineers from campuses in the US as they brace themselves for stringent visa norms under the new administration. Among Trump's top election pledges were restricting immigration and bringing jobs back home.
Apart from Trump, another factor is automation, which is going to eat up several jobs.
Advertisement
"The Trump effect is definitely there. Adding to that is the fact that expected numbers are also muted for the industry in terms of growth. The focus on automation and increasing productivity per employee are other factors," an analyst tracking the IT sector told ET.An Infosys spokesperson, however, told ET: "Hiring from US may not have a substantial impact on the recruitment numbers in India."
(Image: Thinkstock)
Advertisement
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- Vegetable prices to remain high until June due to above-normal temperature
- RBI action on Kotak Mahindra Bank may restrain credit growth, profitability: S&P
- 'Vote and have free butter dosa': Bengaluru eateries do their bit to increase voter turnout
- 9 Amazing health benefits of eating cashews
- Reliance gets thumbs-up from S&P, Fitch as strong earnings keep leverage in check