I applied through college or university. The process took 1 day. I interviewed at Cypress Semiconductor (Pilani) in August 2013.
They had a criteria of shortlisting students. The criteria were CGPA >8, no work experience and one more, which was not disclosed.
Aptitude Test : After the initial shortlisting, an aptitude test was conducted with basic questions relating to common sense. We had to solve 30 questions in 15 minutes. Negative marks for unattempted questions and wrong answers. It contained a section on verbal aptitude also.
1st round of interview: Was conducted by the manager who came on campus. This interview was general in nature with basic HR questions.
2nd round of interview: It was a wolfpack round with 4 to 5 professionals in top level positions interviewing via skype from bangalore. I was also interviewed by the business operations director of the company. The questions ranged from SCM, Lean Production, Method Study, Quality Control etc. This interview went for around an hour.
Referrals: They asked for two referrals. They only release the offer after obtaining satisfactory reports from the references.
People were very friendly with the interviewees. They made us very comfortable with the process. Professionals who talked from Bangalore said that most of the people who join Cypress are with them for long periods of time. Overall, it was a good interview.