Oracle revokes placement offers, IIT Kanpur fresher says he 'hit rock bottom right at the finish line'

A wave of anxiety has swept through fresh graduates at prestigious Indian institutes, particularly the Indian Institute of Technology (IIT) and the National Institute of Technology (NIT), as Oracle recently rescinded campus placement and pre-placement job offers. This decision comes in the wake of a significant restructuring initiative by the tech giant, which saw 30,000 employees laid off globally in April. Many students had secured their positions through zero-day placements, which left them unable to pursue opportunities with other recruiters. As the placement season draws to a close, these graduates are now scrambling to find new job prospects. Smit Jogani, an IIT Kanpur student, expressed his frustration on LinkedIn, stating, "Hitting rock bottom right at the finish line is tough." He remains hopeful, vowing to keep his focus on personal growth despite the setback. Another student, Gautam Raj, shared his heartbreak at losing his offer just a week before graduation. He described the revoked offer for a Member Technical Staff role as a dream come true that swiftly turned into a nightmare. The policy of "One Student, One Job" made it particularly challenging for him to consider other opportunities, and he lamented the loss of his future plans, saying, "It hurts deeply to see my path vanish right at the finish line." Kaushal Jain, also from IIT Kanpur, has been actively seeking job leads on LinkedIn after his offer was similarly rescinded. The scope of the issue is still unclear, but reports indicate that at least 50 students from IITs and several from NITs, including three from NIT Warangal, have been affected. In April, Oracle's sudden layoffs came as a shock to many employees, particularly in India, where around 12,000 were impacted. The majority of these layoffs were reported to be concentrated in the healthcare division, leaving many workers uncertain about their future and the company’s direction.