MAM
Covid care: Borosil extends helping hand to kin of deceased employees
MUMBAI: With the country battling an upsurge of Covid2019 cases, several companies have been rolling out aid and compensation for employees and their families impacted by the pandemic.
Borosil Ltd and Borosil Renewables have said that in the event of an employee losing their life due to Covid2019, his or her family will continue to receive the salary for the next two years. The company will also take care of the education of the deceased employee’s children “till their graduation in India” the glassware company said. The family members will also be eligible to receive other additional benefits the employee is entitled to, said the brand.
A statement to the effect from Borosil Ltd’s managing director Shreevar Kheruka was shared on the company’s social media handle.
A statement from our Managing Director @ShreevarKheruka https://t.co/j5MKigEbns
— Borosil (@Borosil) April 30, 2021
The statement read, “We have lost four employees to this dreadful pandemic. Their names are Santosh Chalke, Vijay Shirsath, Tushar Panchal and Shiv Shankar Bisht. The sadness for these losses is indescribable.
In order to reassure our employees, we have announced that the family of any employee of Borosil Ltd and Borosil Renewable Ltd and their subsidiaries will be given two years of salary in the event of an unfortunate demise owing to Covid2019. In addition to this, the education of the children of the employee will be paid till graduation in India.
The above is no comparison to the scale of the loss, but hopefully will allow the family enough time to process the bereavement and reorient.
I strongly believe that the real assets of Borosil are not reflected on our Balance Sheet at all. We need to protect these assets in whatever way we can. I hope this move is a step in that direction.
This too shall pass and we will emerge into a better tomorrow!”
Last week, gig services marketplace Urban Company also announced it had set up the Mohit Agrawal Covid Relief Fund in memory of the company’s director of engineering who passed away due to Covid2019. The company has partnered with Srinidhi Foundation to set up the relief fund that will provide medical assistance and bereavement support to Urban Company’s gig workforce and their families. The company’s co-founder Abhiraj Singh Bhal took to Twitter to share the news.
@urbancompany_UC has setup the Mohit Agrawal COVID Relief Fund, in the memory of our departed colleague @agr_mohit . This fund will be used for helping our service partners, their families and our community with medical assistance and bereavement support.https://t.co/Gg7KN0zvkv pic.twitter.com/nhhEhTsfMW
— Abhiraj Singh Bhal (@abhirajbhal) April 30, 2021
Brands
Wipro hires 7,500 freshers, withholds FY27 hiring outlook
Profit rises to Rs 3,522 crore, Rs 15,000 crore buyback announced.
MUMBAI- Hiring may be on, but visibility is off, Wipro is adding talent even as it pauses the crystal ball. The company hired 7,500 freshers in FY26 but stopped short of offering any hiring outlook for FY27, underscoring the uncertainty gripping the IT services sector as it pivots towards an AI-led operating model.
The disclosure came alongside its fourth-quarter earnings, where management flagged volatile demand conditions and refrained from committing to future workforce expansion. Chief human resources officer Saurabh Govil noted that over 3,000 of the total hires were onboarded in the March quarter alone, signalling continued intake despite a lack of clarity on deployment pipelines.
This divergence active hiring without forward guidance reflects a broader industry pattern where talent acquisition continues even as deal conversions remain uneven and client spending cycles stretch. Wipro expects its IT services revenue for the June quarter to range between a decline of 2 per cent and flat growth sequentially in constant currency terms, reinforcing near-term caution.
Chief executive officer Srini Pallia pointed to artificial intelligence as both a disruptor and an opportunity. He said evolving client priorities are pushing the company towards outcome-driven engagements, with Wipro increasingly focusing on a services-as-software model through its AI Native Business and Platforms unit. The shift marks a structural change from traditional headcount-led growth to AI-enabled delivery frameworks.
The company has already committed over $1 billion to its AI ecosystem, with investors closely watching how these investments translate into revenue. For now, the numbers present a mixed picture. Net profit rose sequentially to Rs 3,522 crore, while revenue grew 3 per cent to Rs 24,236 crore. However, core IT services performance remained under pressure, with full-year revenue declining 0.3 per cent in dollar terms and 1.6 per cent in constant currency.
Large deal bookings offered a counterpoint, rising 45.4 per cent year-on-year to $7.8 billion, highlighting a widening gap between deal wins and actual revenue realisation. On a quarterly basis, IT services revenue slipped 1.2 per cent sequentially, signalling continued softness in execution.
Margins, however, told a more optimistic story. Operating margins expanded to 17.3 per cent in the fourth quarter, up from 14.8 per cent in the previous quarter, reflecting improved cost discipline. That said, the company cautioned that upcoming wage hikes and the ramp-up of large deals could exert pressure going forward.
Attrition stood at 13.8 per cent in the March quarter, indicating stabilisation after periods of elevated churn. Alongside its earnings, Wipro also announced a Rs 15,000 crore share buyback, reinforcing its focus on shareholder returns, with a payout ratio of 88 per cent over the past three years.
Taken together, the numbers capture a company in transition investing in AI, maintaining hiring momentum, but navigating a demand environment where growth is uneven and visibility remains limited.
