No plans to reduce workforce: Ranbaxy Laboratories

Oct 02 2013, 16:42 IST
Comments 0
The company has been reported to be retrenching staff. The company has been reported to be retrenching staff.
SummaryThe company has been reported to be retrenching staff.

Pharmaceuticals major Ranbaxy 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 said in an emailed response.

The company has been reported to be retrenching staff.

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.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...