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Dr Reddy’s Denies Workforce Reduction Claims Amid Cost-Cut Rumours

Synopsis:

Dr Reddy’s Laboratories denies reports of a 25% cut in workforce costs. The company employed over 26,000 people globally in FY24, with robust investments in staff benefits and training.


Dr Reddy’s Laboratories has rejected recent claims suggesting a significant cost-cutting initiative targeting its workforce. The pharmaceutical major clarified that the reports about a 25% reduction in manpower-related expenses are inaccurate and do not reflect any internal decisions or ongoing plans.

Also read: Aurobindo Pharma Gets USFDA Nod for Generic Xarelto 2.5mg Tablets

DR. REDDY S LABORATORIES

Trade

1183.97.90 (0.67 %)

Updated - 30 April 2025
1196.60day high
DAY HIGH
1175.90day low
DAY LOW
1604442
VOLUME (BSE)

Key Takeaways:

  • Company’s Clarification: No workforce cost reduction of 25% is underway, according to the company's official statement.

  • Rumoured Actions: Reports suggested high-salaried employees were being asked to resign and that employees nearing retirement age in R&D were offered voluntary exits.

  • Workforce Strength: The company had 26,343 employees globally as of March 31, 2024, with 21,757 being permanent staff.

  • Hiring Activity: Over 6,200 new employees were onboarded during FY24.

  • Employee Investments: Around Rs.5,030 crore was spent on employee benefits and Rs.39.2 crore on training and development during FY24.

  • Upskilling Focus: Approximately 92% of employees participated in skill enhancement programmes during the year.

  • Recent Financials: In Q3 FY25, the company posted a net profit of Rs.1,413 crore, reflecting a 2% year-on-year increase, with revenue growing 16% to Rs.8,359 crore.

Also read: HAL Denies Selecting PwC for R&D Benchmarking Amid Ongoing Bids

Dr Reddy’s Financial and Workforce Snapshot

Dr Reddy’s Laboratories continues to focus on strengthening its human capital while maintaining strong financials. The company’s steady investment in employee development and benefits contradicts the notion of any aggressive cost-cutting. Despite media speculation, there has been no official evidence to support claims of mass exits or salary-targeted resignations.

Category

Data (FY24/Q3 FY25)

Global employee count

26,343

Permanent employees

21,757

New hires in FY24

6,281

Spent on employee benefits

Rs.5,030 crore

Spent on training and development

Rs.39.2 crore

Net profit (Q3 FY25)

Rs.1,413 crore

Revenue (Q3 FY25)

Rs.8,359 crore

Workforce undergoing upskilling

92%

Dr. Reddy’s Laboratories Share Price

Dr. Reddy’s Laboratories share price has reflected overall market confidence, holding steady despite recent speculation. The company’s consistent financial performance and human resource focus continue to reassure investors. Dr. Reddy’s Laboratories share price remains a key performance indicator as the company navigates industry dynamics.

Dr Reddy’s Laboratories has reaffirmed its commitment to its workforce and denied any major cost-cutting drive. Its consistent financial growth, large-scale hiring, and significant employee training investments highlight a stable and growth-oriented business environment. Dr. Reddy’s Laboratories share price performance aligns with this outlook.

Also read: Glenmark, Sun Pharma, Zydus Recall Drugs in US over Compliance Issues

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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