Dr Reddy’s layoffs | Pharma major cuts workforce cost by 25%, employees above ₹1 crore package asked to quit: Report | Company Business News

Dr Reddy’s layoffs: Pharmaceutical major Dr Reddy’s Laboratories will likely cut its workforce costs by nearly 25 per cent as it begins a significant downsizing initiative. According to a Business Standard report several senior executives have been asked to resign, including many employees who earn over ₹1 crore annually.

The report also added that employees in the age group of 50-55 years working in the drugmaker’s research  and development (R&D) division have been offered a voluntary retirement. The report said several high-salaried individuals across various departments have already been asked to resign.