TCS, Wipro, Capgemini, Cognizant to hire 40,000 graduates each, across campuses despite the COVID mayhem
With an economy that is crushing even big brands and forcing them to hand out pink slips, the graduating classes of 2020 are facing a market that is not ready to absorb them just yet. In the midst of this chaos, Tata Consultancy Services has come forward with some hope in these times of despair.
Despite the fact that most companies are cutting employee salaries, or rescinding job offers, TCS has decided to move forward with its freshers’ placement drive. This news comes as a relief to the young graduates especially after the turmoil surrounding the H-1B and L-1 work visas. The Indian economy itself is experiencing a slowdown and the pandemic has further worsened the conditions.
TCS has announced that it will be hiring 40,000 candidates across the country, and 2,000 from US campuses. The number matches with the placements TCS offered last year, despite the losses it has faced last quarter. In fact, the US placements have been doubled in 2020. The MNC is leading by example with this decision. Last month, Tata Steel also announced that it would be honouring all job offers made in 2020.
Milind Lakkad went on to say that the 40,000 hires from India could become 35,000 or 45,000 as it will be a tactical decision. He also pointed out that the IT giant is committed to building from the bottom.
Every year, the quality of education that the youth of our country receives improves. The experience they gain during higher education changes and makes them more able to lead the country in the future. With a market saturating at a rapid pace due to the pandemic, they will struggle to make their place. The decision by TCS to keep going with the hiring process will give them the moral courage to not give up even in these difficult times.
According to media reports, apart from TCS, companies such as Wipro, Cognizant, Capgemini, Google, and Accenture are also planning to stand by their hiring numbers for freshers. Wipro has announced absorbing 40,000 graduates while Capgemini and Cognizant will uphold the fresher count they announced earlier this year.
Here are some other things that may come as a ray of hope in these difficult times!