Oracle Withdraws Campus Placement Offers at Indian Institutes of Technology and National Institutes of Technology

Oracle Revokes Campus Placement Offers Across Top Engineering Colleges in India

In a move that has left many freshers in a state of uncertainty, Oracle has revoked several campus placement and pre-placement job offers across India's premier engineering colleges, including National Institutes of Technology (NITs) and Indian Institutes of Technology (IITs). This development comes on the heels of the American technology giant laying off around 30,000 employees globally in April.

According to sources, the impacted freshers were informed earlier this week regarding these offer cancellations, leaving them in a limbo as most of the top institutions have a "one student, one job" policy. The students don't get a chance to try for multiple offers once they bag a job. The institutions impacted by Oracle's move include NIT, Warangal, VNIT, Nagpur, IIT-Roorkee, IIT-Hyderabad, and IIT (BHU)-Varanasi.

The freshers were hired for application developer roles and for Oracle's server technology teams. However, one of the server technology business units, Oracle Health and Application Infrastructure, got shut down recently, leading to the company revoking all the offer letters for the vertical across the country.

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A placement cell head at one of the institutes, who wished to remain anonymous, stated that Oracle did hire in good numbers this year, offering annual packages in the range of Rs 35-40 lakh. "At our college, three offers were revoked. Oracle got back saying they had undergone a restructuring and had closed some of their business units that they had hired for. They tried but couldn't accommodate those students in other teams," the placement head said.

Several freshers took to professional networking site LinkedIn to share their ordeals and explore new openings. Thansen Lahare, an MTech student and a teaching assistant at IIT (BHU)-Varanasi, had his full-time offer to join as a member of technical staff (MTS) at Oracle revoked just a month before his scheduled joining date.

Animesh Sharma, a BTech graduate of Visvesvaraya National Institute of Technology, Nagpur, had an on-campus offer from Oracle that got revoked due to "organisational changes." Moneycontrol couldn't independently ascertain the total number of job offers revoked across the country.

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Oracle's decision to revoke campus placement offers comes after the company laid off 12,000 jobs in India last month, which accounted for nearly 50 percent of its workforce in the country. Globally, this was a part of a larger restructuring exercise, impacting 30,000 job roles. Employees had mentioned the company's healthcare vertical was being significantly affected.