Slow Money Flow in IT Sector Made Firms Revoke Appointments!

IT is one of the biggest industries in India and the sector generates millions of revenue every year. The emergence of the IT sector in India can be attributed to the year 2000 which is also called Y2K. When the western nations suffered a big blow with the recession, the anxiety worked well for India and the sector spread its wings here.

Two decades after the big boom, the IT sector is going through a tough period now as the recession is fast approaching. As a safety measure, the IT firms are working on cost-cutting and the impact is hitting the freshers who are the aspirants of software jobs.

As per the media reports, a few tech giants reportedly revoked the offer letters given to the freshers. Emails saying the same were sent to the concerned freshers leaving them in a big shock. The offer letters were revoked after postponing the freshers’ joining.

As per the observations of the experts, the money flow in the industry is not that great and the companies were forced to work on cost-cutting, and under that, the offer letters were reportedly revoked.

The freshers suffered a big shock as they came very close to getting appointed. They were only one step short of landing their dream job. While the freshers were waiting for the joining date to arrive, the IT firms gave a big shock to them by reportedly revoking the offer letters.

Moreover, the freshers got the offer letters after a lot of hard work and a lengthy selection process. After going through all of this, the candidates were selected and the appointment of the candidates was delayed for a few months.

After the delay in the appointment for a few months, the freshers suffered a big shock after leading IT firms revoked the offer letters. Wipro, Infosys, TCS, and Tech Mahindra firms reportedly revoked the offer letters issued to freshers.

However, the IT firms are yet to react to the news. As a lot is being said about the revoking, we will get a big clarity after the IT firms clear the airs by saying if they revoked the offer letters or not.

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