LG India has revoked 25 selections made in its B-School recruitment drive this year. The company is a premier company in India to work for. It had made these offers to Tier 2 B-Schools in Pune, Bangalore, Mumbai and Delhi. Alliance Bangalore , ICFAI, International School of Business & Media, and FORE School of Management are some of them.
L.K Gupta, marketing officer LG India said that the company has closed on recruitment since January. They have taken this step so that they can optimize their current available resources to maximum. They will consider these students when he company recruits.
LG has given 70,000 Rs as compensation to these students as a good gesture. Our team met one of these students who is really sad after the action from LG India. The student is a topper in Marketing in the batch and was placed early in 2011 to LG. However LG sent the non acceptance letter in the second week of April 2012. This is when the placements of a decent B-School are over. The student missed another 60 -70 companies where he may have applied to. Just think what happens to these students.
LG has been running on losses for the second time in the year,this time it was the fourth quarter. Their business except mobiles and flat screen T.V have been doing bad.
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