Business strategy

Infosys, Wipro, Tech Mahindra Delay Hiring Process, Revokes Offer Letters: Report

Major IT companies, Infosys, Wipro and Tech Mahindra, have revoked offer letters it extended to students after the companies are delaying the onboarding process for months, according to a media report. The students, according to the report, said they have not been given any grounds for rejection.

Pavitra (name changed), an engineering graduate from Bhopal, got mail on September 28 from Infosys informing her about rejection, six months after receiving the offer. “It has been identified that you are not meeting our academic eligibility criteria. Hence your offer stands null and void,” according to a Businessline report, quoting the mail from the company. Pavitra, according to the report, however, fulfils the eligibility criteria mentioned (60 per cent marks in classes 10, 12 and undergraduate course).

According to the Businessline report, another candidate Bhavna (name changed), a computer science graduate from Vijaynagar, received a rejection mail from Wipro, four months after receiving a job offer. The mail said, “We cannot take your candidature forward as you have not been compliant to Wipro’s assessment guidelines.”

Bhavna, according to the report, said he has been rejected even after fulfilling all the grade criteria and submitting all documents. “The company has not given any clarification about the grounds of rejection.”

Vivek (name changed), who got an offer from Tech Mahindra three months ago, also got a rejection mail on September 22, on the grounds of non-clearance of a certification test, according to the report.

He added that Tech Mahindra had mandated the completion of 12 courses as part of the joining process. “I was rejected despite completing them and getting certification.”

For the June 2022 quarter, Infosys reported a consolidated net profit of Rs 5,360 crore, a growth of 3.2 per cent as compared with Rs 5,195 crore in the year-ago quarter. The company’s revenue jumped 23.6 per cent to Rs 34,470 crore, against Rs 27,896 crore in the June 2021 quarter. Sequentially, Infosys’ net profit declined 5.7 per cent as compared with Rs 5,686 crore in the March 2022 quarter.

Wipro had reported its June 2022 quarter profit at Rs 2,563 crore, a dip of 20.9 per cent year-on-year. its revenue for the quarter rose 17.9 per cent YoY to Rs 21,528.6 crore. Its operating margin in IT services segment decreased by 200 bps QoQ to 15 per cent.

For the quarter ended June 2022, Tech Mahindra reported a 16 per cent decline in its net profit to Rs 1,131.6 crore compared with Rs 1,353.2 crore in the same quarter last year. Its revenue from operations jumped 25 per cent y-o-y at Rs 12,707.9 crore in the first quarter compared to Rs 10,197.6 crore in the year-ago period.

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