“The global economy has not experienced this kind of slump for decades. The technology sector is radically impacted, with around 4 lakhs employees being laid off globally since January 2022,” said dean of Alumni Relations, Arya Kumar in a letter that has been circulated on social media.

Recently, IIM Lucknow, which comes among the top five business schools in India, reached out to its alumni to secure placements for the students of its recent batch of graduates.

In its letter, the BITS dean of Alumni Relations also mentioned that the college managed to maintain a healthy placement percentage of 89.2% for the academic year 2022-23. However, the hiring slowdown has worsened since then. “Although the placement teams are doing their best, they would be appreciative of the support from our esteemed alumni to help them tide through the current crisis,” said Kumar in his letter, which was initially shared by edtech entrepreneur Ravi Handa on X.