New IIMs see slowdown in placements, several recruiters withdraw offers

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Newer Indian Institutes of Management (IIMs) are experiencing a cold placement season this year. These IIMs had started placements earlier but several recruiters are withdrawing offers.

Economic factors such as demonetisation, rising automation and US visa issues are among the reasons recruiters across sectors such as information technology, fast-moving consumer goods and banking, financial services and insurance have gone slow on recruitments, say newer IIMs.

IIM-Udaipur, for instance, has a batch of 144 students participating in final placements, which began on November 30, 2016. But it is yet to place 20 students.

IIM-Trichy has seen a dip in the number of offers per recruiter for several reasons. The institute began its placement process in the last week of December but a cyclone in Chennai had played spoilsport. Several companies had to cancel campus interviews and these have not been rescheduled.

Chairperson-Placements and External Relations at IIM Trichy Abhishek Totawar said: “Several macroeconomic factors are coming to play in the final placements, including demonetisation, automation and H-1B visa issues. The whole placement process has slowed a bit. We haven’t been able to reach the numbers we had planned.” Read more

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