Lays off Employees Above Rs 1 Crore Package
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💬 Bridging Perspectives
Dr. Reddy's Laboratories, a prominent pharmaceutical company based in Hyderabad, is reportedly implementing measures to reduce its workforce costs by nearly 25%. This initiative includes laying off employees with annual packages exceeding ₹1 crore and offering voluntary retirement to those aged 50-55 in the research and development division. Reports indicate that several high-salaried employees across various departments have already been asked to resign.
Strategic Shifts and Operational Overhauls
This move is attributed to the company's efforts to enhance operational efficiencies, potentially influenced by under performance in recent ventures such as expansion into nutraceuticals and digital therapeutics, along with new product launches. There are also talks of a possible shutdown of the therapeutics division and downsizing within the nutraceuticals arm.
Global Layoff Trends and Workforce Vulnerabilities
Layoffs are becoming increasingly common globally, driven by economic uncertainty and the growing adoption of artificial intelligence. According to Bombay Shaving Company CEO Shantanu Deshpande, employees in their 40s are particularly vulnerable due to their higher salaries, a concern echoed across the corporate landscape.
📰 News Roundup
NASA dismissed Neela Rajendra, Indian-origin diversity chief at the Jet Propulsion Laboratory (JPL), following an executive order by Donald Trump mandating the termination of DEI positions across federal agencies. Despite efforts to retain her by changing her title, Rajendra was ultimately relieved of her duties in early April.
🎥 Film & TV
Allu Arjun visited Pawan Kalyan's home with his wife Sneha Reddy to check on Pawan's son, Mark Shankar, who was injured in a fire accident at his school in Singapore. Despite alleged political differences stemming from the recent Andhra Pradesh elections, Allu Arjun showed his support for Pawan's family.
🏆 Sports Update
Anjum Chopra suggests Mumbai Indians consider demoting Rohit Sharma in the batting order due to his poor form, impacting the team's starts in the IPL. Despite his experience, Sharma's low scores aren't helping MI. Chopra also advised Shafali Verma to remain optimistic despite recent setbacks.
🏛️ Political Tensions
The ED filed a chargesheet against Sonia Gandhi, Rahul Gandhi, and Sam Pitroda in the National Herald money laundering case. A special court has scheduled a hearing for April 25. This is the first charge sheet against Sonia and Rahul. The ED also issued notices to seize ₹661 crore in assets linked to the case.
🤖 Science & Tech
India leads in AI talent hiring growth, according to a Stanford report. It ranks second globally in AI skill penetration and is a major contributor to AI-related GitHub projects. However, India lags in AI investments, startup activity, research, and skilled talent, requiring significant reskilling efforts.
🌐 Global Affairs
India and the US signed terms for the first phase of a trade deal, aiming to finalise it by the end of 2025. This is part of a broader goal to boost bilateral trade to $500 billion by 2030. India is considering tariff cuts on over half of the $23 billion worth of US imports.
🙃 Fun Fact
You spend about a third of your life sleeping! If you sleep an average of 8 hours daily, that adds up to nearly 25 years of slumber over a lifetime.
⏳ What Happened Today in History
In 1895, Bal Gangadhar Tilak inaugurated the Shivaji Utsav at Raigad Fort to honor Maratha king Shivaji’s legacy, fostering Indian nationalism.
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