Campus hirings have cooled at India’s top business and engineering schools and some are yet to conclude the final placements which were to be completed by mid-January, officials at several placement cells said.

Demonetization that sapped demand and hit consumer-facing companies, and rising protectionism in the US and UK which threaten India’s technology companies are likely reasons for the development, these officials said.

It also threatens to get worse. Human resources (HR) outsourcing and technology firm PeopleStrong says campus hiring numbers may fall 20-25% from current levels by the end of 2020.

“Campus hiring will see a gradual decrease in the next one year,” said Pankaj Bansal, co-founder and CEO, PeopleStrong. “There are various reasons for this gradual decrease: some of them include: reduction in hiring numbers of IT giants due to global economy slowdown, automation of transaction-heavy jobs through Artificial Intelligence and lack of job-readiness in the campus pass-outs.”

This article was published on hindustantimes