Thread regarding Walgreens layoffs

I recently left Walgreens after being a manager for many years When I compared the compensation each month to the stress I had to go through, it was no longer worth it! And i hear more add ons are coming! I wish you all the best!

@ct If your hoping for "due compensation" from Sycamore/Walgreens because you "built this company" and may have poured your heart and soul into it, I wish you the best but you're waisting your time and energy. They'll throw people out like used Kleenex. Given the recent layoffs and cost cuts, we may keep our jobs for the time being but don't expect any improvements in pay, benefits or working conditions. I expect it will only get worse. Think more micro-managing if that's even possible. For many of us, 6 paid holidays were eliminated and that's probably just a start. We'll see what what gets cut next.

@f5

"At this time" 😂

Trust us, we have your best interests in mind.

With love,
Sycamore Partners

Confirmed autogenerated slop post.
Do not engage.

Stores, let alone store manager level impact from Sycamore level pokes will not be affected at this time.
Minus what’s already been flagged for underperformance. That’s been known and built in for at least a full fiscal years. Those closures are locked in already, and have beeen.

Stores otherwise safe. Confirmed grift post.

@dx True. The 1200 store closure was previously announced. Time will tell whether the 2000 store closure prediction happens. I really don't see Sycamore that interested in saving Walgreens. They have to say that but their real intentions may be otherwise. The debt load is concerning as that will be left to Walgreens if things don't pan out.

@a The video is not entirely accurate. The 1200 store closure announcement was long before Sycamore bought Walgreens. It is expensive to close stores especially if you still have to pay on the lease. Furthermore, Walgreens does not have enough properties to 'sell' because it doesn't own many anymore.

I do agree with the spirit of the video. There are also a lot of complicated legal loopholes that allow private equity to do some very creative and not-good things.

@ce

Why not just leave?

Same reason an ex wife gets 50%...

We built this company, there needs to be restitution and compensation.

Sycamore will pay what it owes.

This isn't a negotiation, it's due compensation.

They'll pay one way or another.

Why not just leave and quite making excuses to what those vultures will or won't do. Why would you stay in an environment like that? Ahhh because you will say it's a paycheck. Well then stay, quit whining and just work for vultures until they get rid of you. There is more to life than getting a bonus. And the DM's that made the so called cut, they look pathetic staying and following what the vultures want. Worry about what people should be wearing? Is this a BOARDING SCHOOL? Does a Walgreen customer care what a cashier is wearing that it matches everyone else? How about this: there are thousands of OUTS in a store....how about getting product in to fill them? WHAT A CONCEPT. NO you worry about what people should be wearing, worry about doing bag checks for employees. It's beyond comical and sad. You don't have enough pharmacists that you close pharmacies at times when you can't find one. And that is what you say your core business is? And to say TALENTED certified store managers? That is pushing it...not much talent there at all. ALL are facts and not an opinion. GOOD LUCK.

@a8

Thanks for the share, I'll check it out.

We'll see what happens with the pharmacist shortages and union activity.

Makes the firms vulnerable.

@OP Copy and paste this video someone shared on Reddit showing how Sycamore stands to make money regardless of how successful Walgreens is.

https://youtu.be/wD0dyc6Mxxo?si=Km-g-B3ZJy-8v4pB