Oh, well...
- Walgreens is laying off 469 employees across multiple states following its acquisition by Sycamore Partners, adding to prior job cuts and store closures.
- Since the buyout closed last August, Walgreens has reduced its footprint from about 8,500 stores and 220,000 employees to roughly 8,000 stores and 211,000 workers.
- The Private Equity Stakeholder Project warned that earlier cost cutting steps, including holiday pay reductions, signaled deeper workforce reductions under private equity ownership.