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Pharma company Dr Reddy's has denied reports of workforce reduction. The company said that we categorically deny the claim of 25 per cent reduction in workforce cost and other claims mentioned in the news article. The company said in an exchange filing, "Regarding a news item published in Business Standard on April 13, 2025, headlined 'DRL trims workforce costs by 25% amid Revlimid-linked margin strain'. We want to clarify that this news is factually incorrect. We categorically deny the claim of 25 per cent reduction in workforce cost and other claims mentioned in this news article.''
What was the news
Business Standard quoted sources as saying that the company aims to cut its employee costs by about 25 per cent. The report further said that many senior executives have been asked to resign, including many employees whose annual salary is more than Rs 1 crore. The report said that this cost cutting campaign has not spared even the 50-55 age group employees who have been working for a long time. Company's stock performance On Friday, the company's stock closed at Rs 1,110 with a gain of 1.46 per cent. In the last one year, the company's stock has seen a decline of 7.67 per cent.
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