Recession hits IIM placements

The global recession hits Indian Institute of Management (IIM) placements. Students at the IIM-Ahmedabad are facing the heat of recession as two dozen students have failed to find takers in this week's job placement process.

IIM-A is considered as one of the top 25 business schools in the world. The financial giants - Lehman Brothers and Merrill Lunch were the biggest recruiters from the IIMs - Ahmedabad, Bangalore and Calcutta. These banks were affected due to the recession and global slowdown. Last year, IIM Bangalore had received around 20 job offers from the banks.

This year, the scene is dramatically changed even big recruiters from IIM are giving back step for fresh recruitment. Private companies and government enterprises battle for the best brains in business in the month of March every year.

The recession would have impact on the placements in India. The recession hits Indian job market, as companies have been adopting cost-cut measures and even ready for cut in perks.