Dr Reddy's asks several top-paid executives to quit in cost-cutting drive: Report

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Dr Reddy’s Laboratories (DRL) is tightening its belt in a big way. The Hyderabad-based company has started a major cost-cutting exercise, aiming to reduce employee expenses by about 25%, reported Business Standard.

Several high-earning employees, some making over Rs 1 crore a year—have been asked to resign, confirmed sources familiar with the matter. The move affects staff across departments, not just one area.

Employees aged 50 to 55 have reportedly been offered voluntary retirement as part of the drive.

"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," said the company in a stock exchange filing dated April 14, 2025.