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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.
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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.
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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 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.
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