No Plans to Reduce Workforce_ Ranbaxy _ Business Standard

7/27/2019 No Plans to Reduce Workforce_ Ranbaxy _ Business Standard

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Companies News News

Press Trust of India | New Delhi October 2, 2013 Last Updated at 15:48 IST

No plans to reduce workforce: Ranbaxy

Company has been reported to be retrenching staff

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Read more on: Ranbaxy

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Pharmaceuticals majorRanbaxy Laboratories today said it has no plans to reduce its workforce and is focusing on improving performance and

productivity.

"Ranbaxy has no plans to reduce its workforce either in the next 3 or 12 months," a Ranbaxy spokesperson told PTI in an emailed response.

The company has been reported to be retrenching staff.

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6/11

Denying that any such step was taken or planned, the spokesperson added: "We will continue to improve our productivity and performance and

ensure optimal use of resources for sustainable, long-term growth."

Company CEO and MD Arun Sawhney had said in his address to shareholders in the annual report that it has a team of over 14,600 people globally,

represented by more than 50 nationalities.

"Today, there is a sharper focus on training, learning and development to build leaders and a skilled workforce that can compete in the competitive

global environment," he had said.

Sawhney had also said that the company had initiated a project aimed at designing a new organisation structure to remain relevant and succeed in

today's 'volatile competitive market'.

The project was initiated as a "strong need was felt to realign the organisation and simplify structures and work processes, increase collaboration,

accountability and maximise efficiencies across the company, thereby making Ranbaxy a responsive, nimble-footed and successful organisation".

Ranbaxy has been facing a series of issues with the USFDA, which had last month banned drugs produced at its Mohali plant in Punjab for violation of

current good manufacturing practises.

In May this year, Ranbaxy had pleaded guilty to 'felony charges' relating to manufacture and distribution of certain 'adulterated' drugs made at two

units in India to US authorities and had agreed to pay USD 500 million as penalty.

The company had admitted to past "shortcomings" but said it has rectified those and insisted that its drugs were safe and efficacious. It had also

offered to co-operate fully with any regulator from anywhere in the world wanting to investigate its manufacturing practises.

The company's Japanese parent Daiichi Sankyo has also said on September 24, that it will work with US authorities to resolve the issue of a ban

imposed by the USFDA on the import of drugs from the Mohali plant of its Indian unit Ranbaxy Laboratories.

Read more on:

Ranbaxy

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7/11

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Cognizant Technology Solutions Corp on Wednesday said it had acquired France-based Equinox Consulting, a financial services consultancy, for an

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9/11

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