Thread regarding Walgreens layoffs

The reason this company is going to going under is Pessina managing to lose nearly 2b last year due to poor management.
Actually, since he took over the company has declined yearly.
Now the company is scrambling to cover their a–(ets) and the employees pay the price.
This company quit caring about anything but money years ago...and its finally caught up with them.
It is true that, "You can't take it with you", but the greedy "leaders" are certainly going to try.

Might be for store manager severance. Hearing some role changes coming end of this month maybe they offer severance

Not many stores have 50 employees!

What store do you know has 50 employees? My store only has 13 including the pharmacy

Let’s think about this. If there is a Walgreens and a (Duane Reed or a Walgreens owned Riteaid store )in very close proximity, is there really a need for all 3 stores to be open or can at least one be closed? (All 3 owned by Walgreens) Are the neighborhoods changing so that maybe there is a need for 8 Walgreens instead of 9? Maybe there are some subpar stores which should be closed and have not been because Walgreens is trying...closure is really a last resort. Analysis is needed to determine what is right for each store in each location. These decisions are not taken lightly or done on a whim. There is lots of analysis done and there has to be legitimate proof to close and not just random closings. Walgreens is not ‘out to get their employees’. The data speaks volumes and is analyzed by employees.

That's the thing. They are gonna try to find a loop hole in their policys to fire the employee and miss the big million dollar cost. then file bankrupt. And close the rest of the store all in time.
Now i got fired after 13 years and i got canned on their c-gare–e policy. Evert hing is going to straight termination instead of a written write up or warnings. SHAME

Been an employee for nearly 6 years, taught tooth & nail to get into the Pharmacy Tech class. Thanks to an amazing ASM who taught my SM, I got in. Been doing that a year, I can make more money flipping burgers.

Sad that such a huge company can't pay a "living wage". I still have to count on spousal support to make ends meet.

Cvs manager here.. fs 45-50k in sales. Open 8a-10p 7days a week. 202hrs a week. Sm is 45 of them. Sup and cashier every day no overlap. Delivery day 1 extra person. Workload is very heavy. Pushing carepass or dm writes u up. Low volume under 35k a week. 150hrs and sm is 45 of them. Only 1 person (sm or sup) on in the fs until noon. Same work load as higher volume stores. WALGREENS THIS IS YOU IN THE NEAR FUTURE. very poor environment. SM rings register about 25hrs a week and works stock/planograms for the rest

50 employees per store should be cut by 50% as the average per store (large and small stores together) is about 25 employees per store.

So, if that's the case 200 x 25 = 5000 employees

I am in So Cal and this is 100% true

Walgreens can't retain/hire because they can't compete with competition.

I had employees quit to drive Uber to and from LAX, they make $20/hr with Uber and they can do less taxes this way as many things are deductable from that 20 bucks.

It's impossible to find labor for us nowadays.

I'm at a 24hr tier 1 store and we have 20 employees. The stores don't have staff anymore. Walgreens can't retain/hire because they can't compete with competition.

50 employees per store? Someone needs to check the facts.

200 of 8400 locations, this isn't the first time walgreens has closed stores in those amounts. A lot of those employees will easily have other opportunities in the company or other stores. Depending on the areas targeted there is most definitely a need. Source my husband is a manager for walgreens.

that's why there are no hours

I wonder how much of this is the rite aide stores/employees. We have 4 former rite aide employees at my store but their hours don’t come out of our stores payroll . . . Yet. I’ve asked our store manager what happens when they have to use our hours to pay them? “I don’t know.”

The average is **25 employees per store. **

Cut your number in half.

I am an employee and I have maybe 16 employees at any given time. Even are large volume stores never hit 50 employees unless we are in larger cities with bigger stores.

I wish stores had 50 employees

Our local Walgreens and CVS each have about a dozen employees, typical for slower and small-town locations. Larger stores might have a few more and the big, busy one's will have two dozen, but they're mostly part-timers. No way there will be 10,000...not even 5,000.

Walgreens recently cut back their hours here. I'll be surprised if they aren't on the list.

Where did u get 50 employees a store? Theres under 30...some stores under 20

"50 employees per store". Seriously? You really think they have 50 employees per store? From Walgreen's web site:

How big is a typical store?
Total size: approximately 13,400 square feet
Sales area: approximately 10,600 square feet
Employees: approximately 24

Source

https://www.sec.gov/Archives/edgar/data/1618921/000119312519214110/d786644d8k.htm

The Company currently estimates that it will recognize aggregate pre-tax charges to its GAAP financial results related to Transformational Cost Management Program as follows:

Transformational Cost Program Activities Range of Charges
Lease obligations and other real estate costs

$200 to $300 million
Asset impairments(1)

$400 to $500 million
Employee severance and business transition costs

$600 to $700 million
Information technology transformation and other exit costs

$400 to $500 million

Total estimated cumulative pre-tax exit and disposal charges

$ 1.6 to $2.0 billion

Other IT transformation costs

$300 to $400 million

Total estimated cumulative pre-tax charges

Source:

https://www.sec.gov/Archives/edgar/data/1618921/000119312519214110/d786644d8k.htm