"Whether people like this or not..." Not sure if Walgreens is close to bankruptcy yet but it appears to be getting closer to the drain. Certainly, our CEO has a lot of "difficult decisions" to make. The company has been allowed to deteriorate for years, starting with Wasson. Outdated technology and processes with little or no investment in employees hastened the company's decline. Indeed, morale, bad already, continues to decline and will make a turnaround very difficult.
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Whether people like this or not the simple fact is this company has been bleeding money for a year part of it is due to the opi--d settlement but his company has been so poorly managed by the previous 2 CEOs that this is what they have to do to try to right the ship but this thing has become the Titanic at this point. It will depend on how the announcement on the 2nd quarter earnings goes on the 28th to see what is going to happen next. Most likely they will lose money again but will it be less than the previous quarter or more. Considering all the layoffs they have done and now that they are closing some of the distribution centers if you did not see this coming then you have never seen a company that is most likely teetering on the brink of bankruptcy. Expect more to come especially if the second quarter is worse than last year. All of the things that have happened since New CEO took over are happening because they are trying to save this company but considering the low employee morale at corporate and at store level this is going to be a very hard sell to employees. I am not expecting a bonus at all again for stores other than some may get the 25% again and if you expect more than that you are going to be sadly disappointed. Going to be a very bad year and if anything happens with the a recession it will be much harder than it already will be.
The distribution center in Orlando, Florida, will also be closing. A total of 646 workers will lose their current jobs.
Over 300 jobs will be eliminated because of the closure of the Walgreens distribution center in Killingly.
CNBC reports Walgreens had a loss of $67 million in the first quarter, and was looking to save a billion dollars this year.
It's only the beginning.
Walgreens to lay off hundreds of Orlando workers, close distribution center
Is Orlando CPO affected?
Orlando and Dayville
Since they just changed up some of the routes for the area that I work that’s interesting that you posted that being that this has not even been announced yet.