E-commerce companies have not shown the same degree of enthusiasm this year to hire students from the Indian Institute of Management, Bangalore (IIM-B). While last year e-commerce firms hired 68 students from IIM-B, this time they offered only 54 of them.
Speaking to FE about the trend, Raja Lahiri partner at consultancy Grant Thornton India said, “The frenzy that was there for the last couple of years in this sector is definitely getting moderated and it is visible. Companies would try to cut down cost in every possible aspect, as cost becomes an important driver when they look at profitability at this stage.”
Other prominent E-commerce recruiters included Uber, Ola Cabs, Paytm, Urban Ladder, AskmeBazaar, Hopscotch, and CarTrade.
An IIM official, who did not want to be identified, told FE that students were asked to be cautious while taking offers from consumer internet companies. The last quarter of 2015 had seen layoffs at companies like FoodPanda, Tinyowl, Housing.com and others.
“Earlier we were very excited about the new opportunities coming up, but after recent examples of how start-ups tackled employees while winding up has left us thinking. Not that we are averse to working with e-commerce companies, but we are treading cautiously,” he said.