In a development that has sparked concern across the student community, especially among those studying in India’s top engineering campuses, tech giant Oracle has reportedly revoked campus placement offers made to students from several Indian Institutes of Technology (IITs) and National Institutes of Technology (NITs).
According to various news reports and posts on LinkedIn, multiple candidates who had secured roles through Oracle’s campus recruitment process were informed that their offers were revoked.
"I wanted to share an important update with my network. My PPO offer from Oracle (Day 0 company) was recently revoked due to internal restructuring and headcount-related changes," mentioned a LinkedIn post by one of the students who received the pre-placement offer by Oracle.
The move comes after the global tech giant fired almost 30,000 employees across its offices worldwide. While the company has not publicly detailed the exact reasons behind the decision, global hiring recalibrations, budget constraints, and other priorities may be some of the reasons for the decision.
The revocation of job offers from a major multinational technology company has triggered disappointment among students who were not allowed to appear for other interviews due to the 'one student, one job' policy at the institutions.
Placement cell officers at the IITs and NITs are reportedly working to support affected candidates by connecting them with new hiring opportunities. According to a report by Moneycontrol, NIT, Warangal, VNIT, Nagpur, IIT-Roorkee, IIT-Hyderabad and IIT (BHU)-Varanasi are some of these institutions impacted by Oracle's move and the firm had hired freshers for application developer roles and for their server technology teams. But, one of the server technology business units, Oracle Health and application infrastructure was shut down recently, which led to the company revoking all the offer letters for the vertical across the country.
