HCL Tech ends recruit-protests; absorbs 500

HCL Tech has completed its negotiations with the protesting fresh recruits and has has resolved the dispute by absorbing 500 of them, reports CNBC-TV18's Kritika Saxena.

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There has been chaos in the IT sector when it comes to employing fresh recruits as the exact number of fresh recruits entering IT companies has been ambiguous.
Around 5,000 recruits protested against the company and demanded to be employed as soon as possible. The IT major had brought its hiring process to a halt after issuing appointment letters to the recruits due to a dip in customer demand.
The company also announced that the rest of the recruits would be absorbed in batches from August onwards.
According to HCL Tech, "The reduction in growth as well as the shift in services mix has had an impact on the recruitment of freshers across the industry. There has been an industry wide delay in the openings for new joinees in the companies. A challenge that freshers face is that higher end discretionary services will increasingly require experienced and onsite resources. Even within the companies, there has been an increase in number of people who are waiting to be assigned to projects and thus are on 'bench'. 
Amidst the current market reality, HCL is committed to provide rich and sustainable careers for all joinees in the company and has been releasing openings for joining to candidates who graduated in 2012 and received Letters of Intent (LoI), in alignment with demand and momentum areas of the markets.