Tech giant Amazon defers employment offer letters made to campus hires from IITs and NITs, Business Today has learned from sources.
A recent graduate from IIT Bombay who had been hired for the role of Software Development Engineer at Amazon told Business Today that his offer letter had been deferred to January.
The engineer said, “I was recruited at Amazon at SDE-1 with a CTC of around 30 lpa. I was supposed to join in June, but I got an email from HR saying that the offer has been deferred. My next joining is set in January.”
“This is across IITs. I know several other people from other campuses who had interned with me, even their offer letters have been deferred,” he added.
Campus hires from NITs also got an intimation that their offer letter has been deferred, a source noted.
“Offer letters of NIT students have also been deferred. Some have also been revoked it has come to my notice,” a placement cell coordinator from an NIT noted.
Business Today reached out to Amazon for a comment on the same. A company spokesperson responded by saying, "In light of the challenging economic conditions, we're delaying the start dates for some of our college hires by up to six months. We're offering assistance to help address any financial impact. This decision does not involve revoking or rescinding any offer letters that have been extended to students. Amazon remains committed to university recruiting and developing next generation of leaders and builders.’
The recent graduate from IIT noted that six months is too long for him to wait and he plans on looking for new opportunities.
“I can’t wait for six months, it will not reflect well on my profile. The market is tough but I have started connecting with alumni and started looking for other opportunities,” he said.
Business Today previously broke the news that Amazon laid off employees across Amazon Web Services and Amazon's People Experience and Technology Solutions in India.
As per SEC filings, last month Amazon announced its Q1 FY 2023 results.
The company’s operating income increased to $4.8 billion in the first quarter, compared with $3.7 billion in the first quarter of 2022. First quarter 2023 operating income includes approximately $0.5 billion of charges related to estimated severance costs.
Net sales of the tech giant increased 9 per cent to $127.4 billion in the first quarter, compared with $116.4 billion in the first quarter of 2022.
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