According to a report by Moneycontrol, the pharma company Dr Reddy’s Laboratories has dismissed reports suggesting a 25% reduction in workforce costs, calling the claim “factually incorrect.”
In an official statement issued on April 14, the company also noted that it does not respond to market speculation.
Dr Reddy’s Laboratories has responded to a report that alleged a significant cost-cutting drive, including the resignation of several high-earning senior executives.
Refuting the claims, the company stated, “We wish to clarify that the said news is factually incorrect. We categorically deny the claim of a 25% workforce cost reduction and the other claims mentioned in the said news article.”
According to the news report citing analysts, Dr Reddy's Laboratories has been making strategic efforts to enhance operational efficiency.
In recent years, the pharma giant has entered the nutraceuticals space through a joint venture with Nestlé, ventured into digital therapeutics, and launched multiple new products.
To support these expansions, the company has also ramped up hiring.
Notably, Dr Reddy’s reported consolidated employee benefit expenses of Rs 1,367 crore in Q3 FY25, reflecting a nearly 7% increase from Rs 1,276 crore in Q3 FY24.
