Best B-schools report solid enlisting by e-commerce companies and tech new businesses – IIM Kozhikode, MDI Gurgaon, and SP Jain saw the greatest hop in offers from the division within the recent placement season. Rahul Gaitonde, Chief Operating Officer at Cube Consumer Services Pvt Ltd stated, “This is great stuff, IIM Kozhikode Placements Committee. He described two major points – “Five students chose to opt-out of the process, as informed by the institute.” – I wonder how many among them are starting up. Speaking of startups he added, “IIMK has seen 200 per cent surge in offers from start-up along with more than 150 per cent increase in the roles from e-commerce firms.” Amazon, Flipkart, Swiggy and Byju’s are among those scooping up candidates for category management, business development, and fund. On the other hand, marquee names like Oyo, Ola and Paytm have lain off individuals. India’s enlisting startups are undergoing a rebalancing.
Where Oyo Hotels is terminating thousands of staff over China and India, people said that there have been growing signs of trouble at one of the biggest startups in SoftBank Bunch Corp.’s portfolio. As per ET reports, The company has let go of 5% of its 12,000 workers in China somewhat due to non-performance, whereas expelling 12% of its 10,000 staff in India. Oyo is experiencing a rebuilding, trimming excess in China and India, driving to thousands of rejections.
Recently, The Indian Institute of Management (IIM) Kozhikode has closed its placement in just five days as all its 413 students have secured job offers in such a brief period. The batch had a total of 418 students. A total of 131 students visited the campus which is an increment of 22.4% over the last year. The average salary increased from Rs 20.6 lakh per annum (LPA) to Rs 23.08 LPA whereas the median increased from Rs 18.5 LPA to Rs 20.8 LPA as compared to last year. The top bagged 50% of the students CTC of Rs 26.69 LPA, a 12.5% increment from the last year. Tanay Sil, A keen learner of Business Management said, “It’s really great to achieve an incremental success in placements year on year. However, I believe that IIMK has gone past that. IIMK professors in real sense ignite the thought leadership in us, helping us to challenge the status quo and derive a path of our own. Thank you for giving us the opportunity.”
K Yatish Rajawat, Gurgaon, Haryana felt, “Business press sometimes follows a narrative pattern, applying a negativity bias to everything. Retrenching 5% of its employees due to non-performance is a regular process in most organisations. It should not be alarmist layoffs of thousands. Every organisation does it every year. Oyo is one of the few Indian companies getting into China and is much more closely scrutinized than other startups. Even a layoff of 12 % in India is in line with a course correction. The challenge with pattern formation is looking to draw one between WeWork and Oyo. Both are Softbank funded companies providing rentals of real estate, but that is where the comparison should end. It does not hence a routine retrenchment becomes layoffs of thousands.”
Adding to Oyo’s challenges, hotel owners in China have been challenging before the company’s workplaces, charging the startup of damaging legal agreements. The developing turmoil may complicate SoftBank’s endeavors to raise a successor to the Vision Fund, the world’s biggest pool of startup investments.