Sorry. But I'm not able to interpret that news like that. My interpretation is that they are going to start a new 1 year M.Tech. program for working professionals -- Executive M.Tech. which is mostly irrelevant for GATE people. Those who have a good job now, can make use of it.
I don't think executive Mtech (part-time) can be compared with full-time MTECH [email protected] IITs as placement prospects will be different for full time IIT Mtech which are compareable to Btech CS at IITs
I don't think placement's will be affected. Even in executive MBA at IIM's, the placement's are same as normal pgdm program but you need a valid CAT score. So I guess even here you would need a valid GATE score along with working experience.