Cipla Trimming Jobs Amid Europe Business Rejig
The rumor mill has it that Cipla has begun a significant personnel "rightsizing" effort as it tweaks its business strategy for the next phase of growth. The Indian firm maintains that any job cuts are from natural attrition from its evolving business model in Europe.
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Dr Reddy’s Laboratories has set in motion significant cost control initiatives as part of broader efforts to emerge leaner and more nimble. Headcount rationalization in R&D is rumored to be already underway, while more operational areas could potentially see significant manpower reductions.
Cipla's management sees the firm's profile changing as it scales up its US business with new launches and a step-up in product filing intensity. The Indian company is also "largely done" with a restructuring in Europe that saw a significant cutback in personnel but is expected to make the European business profit-accretive.
Cipla has announced the departure of its CEO Subhanu Saxena and the elevation of a promoter family member, Samina Vaziralli, as it transitions to its next phase of growth. Vaziralli's elevation reinforces the long-term commitment of the promoter group to Cipla and comes amid on-and-off speculation that the company may be a sell-off candidate.