{"id":281784,"date":"2025-04-14T16:06:15","date_gmt":"2025-04-14T16:06:15","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/14\/factually-incorrect-dr-reddy-clears-air-amid-workforce-reduction-rumors-times-of-india\/"},"modified":"2025-04-14T16:06:15","modified_gmt":"2025-04-14T16:06:15","slug":"factually-incorrect-dr-reddy-clears-air-amid-workforce-reduction-rumors-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/14\/factually-incorrect-dr-reddy-clears-air-amid-workforce-reduction-rumors-times-of-india\/","title":{"rendered":"‘Factually incorrect’: Dr Reddy clears air amid workforce reduction rumors – Times of India"},"content":{"rendered":"
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Hyderabad based pharma giant Dr. Reddy\u2019s laboratories firmly rejected media reports<\/a> claiming that the company major is slashing workforce related costs by 25 per cent.
The company\u2019s response came after media reports surfaced alleging that the drug producer was planning to reduce manpower costs amid margin pressures. Media reported, citing sources, also alleged that high-earning employees were being laid off, while some in the 50\u201355 age group were being offered voluntary retirement, especially in the R&D division.
Dismissing the claims, Dr. Reddy\u2019s said in an official exchange filing that the information was \u201cfactually incorrect\u201d and denied any such cost-cutting measure.
\u201cWe wish to clarify that the said news is factually incorrect. We categorically deny the claim of a 25% workforce cost reduction<\/a> and the other claims mentioned in the said news article.\u201d
The company also added that it does not comment on market speculation and remains committed to timely disclosures of any material developments, as required by regulatory norms.
Earlier media reports had suggested that the alleged workforce cost reduction could impact between 300 and 400 employees and potentially save the company up to Rs 1,300 crore annually. The move was seen as a response to weak performance in some of the company\u2019s recent ventures, such as its partnership with Nestl\u00e9 in nutraceuticals and its push into digital health.
In the third quarter of FY25, Dr. Reddy\u2019s reported employee benefit expenses of Rs 1,367 crore, up from Rs 1,276 crore in the same quarter last year. During FY24, the company hired over 6,200 people and invested Rs 39.2 crore in training and development.<\/div>\n<\/div>\n