Thread regarding Walgreens layoffs

Did Walgreens Fail On Purpose?

If you are planning on taking Walgreens private, wouldn't you want to pay as little as possible to do so? And, once you own the company, wouldn't you want to "improve" it easily to make as much money as you can when you sell it or have it go public again?

For instance, is it possible that Pessina/Sycamore/etc. intentionally:

  1. Created a bad anti-theft policy so Walgreens would incur losses that could easily be made up after changing this policy later.

  2. Created bad losses like the doctor office scheme, etc.

  3. Paid massive amounts of money out to 'leaders' who were either friends or affiliated with each other.

The reason I thought of this is because of all the new over-stock all the stores are getting. They obviously held back on stocking the stores immediately before the sale and then after the sale, went back to making sure stores are fully stocked. That is at least somewhat of a manipulation. What else did they do.


by
| 1291 views | | 4 replies (last December 8) | Reply
Post ID: @OP+1kbseh2hf

4 replies (most recent on top)

@j5 Walgreens has been going south for years, starting with Wasson. The downward slide continued with Roz Brewer. Tim may have been just a placeholder waiting for the Sycamore deal to happen with no real intention of a turnaround. Whatever the case, If I were looking for a job, I'd steer clear of Walgreens.

by
| | Reply
Post ID: @ms+1kbseh2hf

You cannot blame Sycamore for sinking Walgreens prior to sale. CEO Tim and team did the damage before sale. Maybe they did it for Sycamore. Tim told a great story about turning around Walgreens and ended up selling the company to Sycamore.

by
| | Reply
Post ID: @j5+1kbseh2hf

1 and 2 are Walgreens paying consultants a lot of money to tell us what to do, while they tell other companies the same thing. A bunch of other retail companies are doing 1 and tried 2 at the same time we did.

by
| | Reply
Post ID: @fa+1kbseh2hf

Number 3 seems very likely. Other than better stocking of store merchandise, there doesn't appear to be much in the way of improvement. Pharmacies are woefully understaffed. Patients frequently ask: "What happened to Walgreens?" The recent pay cut (elimination of paid holidays) further demoralizes an already demoralized workforce. Not a recipe for success for a customer service business.

by
| | Reply
Post ID: @cx+1kbseh2hf

Post a reply

: