 "In the April-June quarter of FY20, Wipro paid a retention bonus of ~1,00,000 to the freshers, who were hired via campus placement and completed one year")
With the layoffs and hiring slump in the information technology (IT) sector ringing alarm bells, engineering colleges are beginning to take a safer route this year: focusing on core engineering, followed by manufacturing, automobile and consulting.
Ahead of the final placement season for 2023, which begins in July, campuses are also inviting more firms for placements and, more importantly, tapping into stronger, better-performing sectors.
The IT sector's overall participation in placements this year is expected to be bleak, though the colleges say none of the offers made to their students has been withdrawn.
The share of hiring from the IT
