u/4Pas_

Never expected such a large and reputed company to revoke many offers. They revoked 4 offers from our IIT and many more from the likes of Kanpur, Kharagpur, etc, due to "change in business needs", and over 50 across all IITs and even more so across NITs and BITS today. AIPC is a piece of trash too, can't expect anything from that, so Oracle will likely continue coming for placements next year too. This is a huge blow for the career of so many smart students.

This is not it, some revocations are still pending and might take upto a week.

The students who got offers on Day 1 of placements with insane competition and an TC of 35+ LPA are now left jobless, and since IITs follow an "one student - one offer" policy, they were unable to sit for many high paying companies which came later during placements. One of our seniors also got fired 8 months after he joined (his entire team got laid off) too.

Just imagine the kind of pressure these students would have gone through during the months preceding placement season, and the amount of satisfaction after they their offer. Now, after their BTech/MTech is done, they suddenly get this news. They've missed all major companies and need to settle for much lower offers than they deserve, or worse yet, no offers.

Another large company has also pushed back their joining date to September which is incredibly concerning, especially as their stock price has been dropping for the past year.

For those who are saying "CS is no longer safe", you're wrong. Firstly Oracle's work (software engineering) has very little to do with CS (and whatever CS is required is usually at senior levels), and they have hired from all branches at IITs. Secondly, CS is a much vaster field than just software engineering.