It's not placements as usual for IIMs this year

economictimes.indiatimes.com:

jobs for all students this placement season. The impact of the global slowdown and over-hiring during the post-Covid job boom are being felt at the Indian Institutes of Management (IIMs), where final placements are either ongoing or will begin soon.

This year is turning out to be one of the most difficult ever for placements at the top IIMs of Ahmedabad, Bangalore, Calcutta, Lucknow, Indore and Kozhikode, officials and students across institutes told ET. Many did not wish to reveal their identity or their institute.

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The downturn will affect everyone, but in different proportions, said Debashis Chatterjee, director of IIM Kozhikode. «When there's a crunch, companies tend to bet on tried-and-tested institutes. We are not worried about placing everyone, but people may or may not get the jobs they want,» he said.

This year is difficult for placements, Ankur Sinha, chairperson, placements, at IIM Ahmedabad, told ET. «A reduction of around 10-15% offers on average from leading MNCs is expected in this job scenario. No doubt that this year is different for them from recent years.»
Consulting firms, among the top recruiters at IIMs, have reduced the number of offers this year.

To offset the impact, the institutes are tapping alumni networks and inviting new recruiters, including private equity and venture capital firms and Indian conglomerates.

«It is important for academic institutes to have long-term relationships with a large set