IT major – TCS, Infosys, Wipro, Cognizant, HCL, IBM and Accenture, have started their campus placement season. Campus hiring an important indicator of growth comes in the backdrop of macro-economic uncertainty for the industry. According to placement officials IT firms are visiting campuses but the numbers are likely to be less as Indian IT companies may cut back on campus hiring this year. Macro-economic uncertainty and low growth expectations combined with low utilization and low attrition are likely to be the reasons for slow hiring. IT companies had hired 2 lakh freshers from various engineering campuses last year. The decline comes as the main US and European customers of India's outsourcing sector struggle with low economic growth.
Source: The Economic Times