What happens to the offers rolled out to the fresher's recruited by Avaya from Engineering colleges in India ? Will they be given an opportunity at extreme networks ?
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It could be Nortel Networks 2009 again. When Nortel filed for bankruptcy in 2009, all the offers made to college grads in India were cancelled. I don't remember any compensation been given. A large number of such grads were from NITs.
The offers will be honoured, that is what i heard from the managers, so nothing to worry, but be alert, as nothing is guaranteed.
I have personally seen these kind of situations during 2008 recession and recent bellying up of startups. The company in trouble can simply take up the offer. The worst the company has go through is getting blacklisted from couple of colleges which is much better than hiring 10 fresher for whom there is no budget. I would advise applying elsewhere and applying elsewhere fast.
Oh, alright. Its out in the news that the deal would get finalised by 30th of June, and the Date of joining for new grads is in the month of July.
Typically new grads would have a probation period between 3-6 months. If you have made it past the probation, there is a good chance that if Extreme wins, you might be on the boat.
However Extreme and any potential winner would only offer employment to the "majority" therefore not every wil be on the boat.
Best to keep your resume fresher!