Those affected are getting mutual separation deals with about three months' pay and variable pay as severance.
According to CEO-designate Shreehas Tambe, the move is all about removing overlapping roles and making things run smoother, not punishing individual performance or slashing headcount just for numbers' sake.
Interestingly, even with these cuts, Biocon Biologics added more than 2,000 employees over the past year as it aims to grow globally.