An emergency meeting for the heads of placement committees across the Indian Institutes of Technology was held on Friday with the agenda to device a strategy for startups and e-commerce companies after Flipkart postponed the hiring of campus recruits.
As an outcome of the meeting, placement heads of 16 IITs decided to blacklist 6 startups from participating in campus placement for the academic year 2016-17.
The startups have been categorised into three types: one that delay joining dates, one that reduces the promised salaries, and the one that withdraw their job offers altogether.
There are 5 to 6 companies who fall in the third category and are banned from hiring this year. “IITs want to protect the students. We are sure that this will act as a deterrent for other companies,” said Babu Viswanathan, training and placement advisor, IIT-Madras. The blacklisted companies can again participate in next year’s campus recruitments after giving satisfactory explanation in AIPC’s meeting.
Flipkart and Roadrunnr delayed their joining date for campus hires, While Flipkart has given assurance to provide internship with a stipend of INR 50,000 per month, Roadrunnr has agreed to provide joining by September. “We wanted written assurance from these companies. If these companies failed to honour their commitments, they will also be blacklisted,” Vishwanathan said.
There have been atleast 5 companies which have slashed their initial packages by as much as 25%. A week’s time has been given to these companies to respond and move forward with their initial offer. Those who will fail to do so, will be blacklisted.