Dr Reddy’s Laboratories has issued a strong denial in response to media reports alleging layoffs of high-paid senior executives and a significant reduction in workforce expenses. In an official exchange filing, the company stated that the news is "factually incorrect" and reaffirmed its commitment to regulatory transparency under SEBI Listing Regulations.

“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,” the company said in a regulatory filing.

Earlier, it was reported that Dr Reddy’s Laboratories has laid off several top-paid senior employees as part of an ongoing restructuring initiative aimed at reducing workforce costs.

The media report also claimed that alongside the layoffs, the company has extended voluntary retirement packages to select employees aged between 50 and 55, particularly in the Research & Development division.

“In this regard, please note that the Company does not comment on market speculations and there is currently no such event or information which requires a disclosure under Regulation 30 of the SEBI Listing Regulations,” the statement added.

“In compliance with Regulation 30 of the SEBI Listing Regulations, the Company makes prompt disclosure of any event or information, as and when any event or information is considered material or warrants such disclosure under the said Regulation.”

As of FY24, Dr Reddy’s Laboratories employed over 26,000 people globally, including 21,757 permanent staff. The company hired 6,281 employees during the year and spent ₹5,030 crore on employee benefits, with ₹39.2 crore allocated to training and development. The median salary rose 7% year-on-year.

Dr Reddy’s Laboratories is preparing to announce its January–March quarter results for FY25 in May.