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Oil major Schlumberger withdraws job offers to IIT graduates amid coronavirus and oil market crash

FPJ Web Desk | Updated on: Wednesday, April 22, 2020, 09:07 AM IST

Oil major Schlumberger withdraws job offers to IIT graduates amid coronavirus and oil market crash

 | Schlumberger
Oil major Schlumberger withdraws job offers to IIT graduates amid coronavirus and oil market crash | Schlumberger
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Yes, coronavirus has spared no one and has had an impact on all the economies leading to salary cuts, lay offs and now even job offer withdrawals. Well, even major businesses in the industry have been doing it.

Energy major Schlumberger has now decided to withdraw its job offers to Indian Insitutes of Techology (IIT) graduates across the country, reported The Indian Express.

Well, this move comes in the wake of the coronavirus outbreak and the global drop in oil demand due to the lockdown and a crash in the prices of oil market.

As reported by Indian Express, Schlumberger, the largest oil-field service company, wrote to the IITs on April 6 stating that they are reducing and withdrawing some internship and graduate opportunities so as to adjust the sudden reductuion in customers spend."

“We will personally communicate our decision to each student who is affected by this decision,” Gautam Reddy, Managing Director, India and Bangladesh, Schlumberger said in a letter to IIT.

He also added that they have withdrawn the offers for now and if the situation changes they will first recruit the ones who have been filtered out.

With this Schlumberger becomes the second MNC to withdraw its offers to IIT graduates. Earlier, Gartner Inc, US-based research firm withdrew 11 offers made to students.

Well, this is a tumultuous time for oil producing nations with global energy prices driven down in part due to a glut of oil in storage worldwide as drivers stay home under coronavirus quarantines rather than gas up their cars or board planes.

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Published on: Wednesday, April 22, 2020, 09:01 AM IST