IITs To Favour PSUs Over Startups At This Year’s Placement

Following a series of complaints of startups revoking offer letters to its students, this year IITs have planned to give early placement slots to public sector undertakings (PSUs), despite these companies offering much less pay package than private companies. The idea is to give students a chance to opt for stable jobs rather than pick up lucrative, yet unstable offers in startups.

Some of the PSUs likely to be invited include Oil and Natural Gas Corp, Indian Oil Corp, Bharat Heavy Electricals Ltd, NMDC and Hindustan Aeronautics Ltd.

Early this year, the All IITs Placement Committee (AIPC), blacklisted a total of 31 startups for dishonouring job offers.