Top headlines: Wipro fires 452 freshers, Sodhi's exit from Amul and more

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Over 70% of PMS plans, investment vehicle for the wealthy, lagged in 2022

Seven of 10 schemes, or 154 of the 212 schemes, underperformed the market among a segment of investment vehicles aimed at the wealthy.

Only 27.4 per cent of portfolio management service (PMS) providers delivered higher returns than their respective benchmarks, shows an analysis by Business Standard of data from tracker PMS Bazaar. PMS investments have a minimum ticket size of Rs 50 lakh, and the industry manages over Rs 2.4 trillion worth of equity assets, besides an additional Rs 21 trillion in debt. Read more...

2 years of Covid vaccination drive: More room for others in vaccine mix

A larger variety of vaccines are increasingly making a mark in India’s incremental vaccinations.

The share of other vaccines, such as Sputnik V, Corbevax and Covovax, has shown a rising trend, according to data from the latest week, which marks the second year since vaccinations began in January 2021. The entry of newer vaccines is likely to accentuate the trend. Read more...


Sodhi's exit from Amul shows chronic problem between management and board

One of the primary reasons for setting up the Ministry of Cooperation in July 2021 was to attract “professionals” into the cooperative sector to develop the latter. Though it is not a cooperative body in itself, the Gujarat Co-operative Milk Marketing Federation (GCMMF), popularly known by its signature brand name Amul, does raise questions on future of professionals entering the sector following its managing director R S Sodhi’s recent “unceremonious” exit. Read more...

Fresh formal job creation stays below 1 million in November: EPF data

Fresh formal job creation remained below one million for the second consecutive month in November, signalling pressure in the employment market, the latest payroll data released on Friday showed.

However, after falling for three consecutive months, fresh formal job creation rose 17 per cent sequentially in November, aided by the low base in October. Read more...


Layoff season continues: Wipro fires 452 freshers on performance grounds

Wipro has terminated 452 freshers on the grounds of performance. In a statement, Wipro spokesperson said: “We had to let go of 452 freshers after they performed poorly in assessments repeatedly, even after training. At Wipro, we take pride in holding ourselves to the highest standards. In line with the standards we aim to set for ourselves, we expect every entry-level employee to have a certain level of proficiency in their designated area of work.” Read more...