India, April 14 -- Pharma giant Dr Reddy's Laboratories is reportedly cutting workforce-related costs by nearly 25%, signaling one of the most aggressive corporate restructurings in the Indian pharmaceutical sector in recent years.

According to a report by Business Standard, several senior executives have been asked to resign, including many employees in the Rs.1 crore-plus salary bracket.

The cost-cutting drive has not spared long-timers as employees in the 50-55 age group, particularly in the Research & Development (R&D) division, have reportedly been offered voluntary retirement.

While the company hasn't issued an official statement and HT could not independently verify the report, sources told Business Standard that the cost-cuttin...