Thread regarding Walgreens layoffs

Sears 2.0

Was told HR, IT are being completely outsourced. Comms, legal and finance will be drastically reduced.

Tim was brought in to fix Walgreens. Laying off support center workforce is an easy action for him to take. Easy actions are not always the best actions. Laying off employees isn't going to solve the issue. Good leaders will get the best out of their employees, and not just let them go. We want smarter actions from Tim. What is he doing to increase revenue? Counter the competition? Reduce nepotism? Nothing. Cutting your way to profitability hasnt worked in retail. $9 a share is because there is no confidence in the Walgreens leadership. Laying off employees isn't going to do a thing to our stock.

They have no turnaround plan, Amazon breaking into pharmacy delivery will be the end of them as we know it. I feel bad for anyone working there, they had to have seen this coming.

3 rounds of layoffs next year announced around financials to bolster stock price, sears did the same exact thing. How are they doing?

$9/ share. Did you not see this coming?

Heard they will mandate 5 days in office next year, easy way to weed out people without firing them.

3 large rounds next year is what I heard too, was in Deerfield this morning and when the email hit it was like a bo-b went off. We all knew it was coming, just didn’t think it would be before the holidays. Gut is telling me I likely won’t make it through next years rounds so going to start looking now.

Sears? Kmart?…Walgreens.

I left last year, the company missed so many opportunities to modernize. Just like sears and Kmart and circuit city and Montgomery Ward. When you wait too long it becomes too late. Amazon breaking into pharma was the nail in our coffin.

Todays layoffs were a lot of execs, if your team falls under those execs you’re likely going to be heavily impacted in next years layoffs. I can confirm I also heard 3 large rounds next year. Update your resumes folks

I feel like I'm working for Montgomery Wards or Sears.

1200 stores are being closed folks, did you not think corporate layoffs were coming?

Was told consultants are looking at roles and who can do the most for least (pretty typical, just sad) and will cut based off those metrics. Also heard about the 3 rounds next year. Was in Deerfield today and can confirm the “chaos”, embarrassing for a company this large to be so poorly run for so long.

Any word on the call centers?

We can’t close 1200 stores and not expect corporate layoffs too. This is likely only the beginning and we’ll see the full brunt early next year in Q1

3 large rounds of layoffs next year I was told, was in Deerfield today and to put it nicely, complete chaos.

Let’s not mince words, Tim was brought on to fix this company, it’s going to be painful and a lot of jobs will be lost, but 100% necessary. We are bleeding money, Amazon and CVS are destroying us in sales and stock wise. A company our size cannot survive with a $9 stock price, it’s embarrassing and a sign of just how much change is needed to correct this mess.

Was in the Chicago office today and the mood was bleak. Everyone knows this is the beginning of a massive re-org. No one is safe and moral is non existent.

They just announced they were opening the other part of 200 and the cafe - would they close it after doing that, or is that a selling point?

I was cut today, with them for 9 years. The company is spiraling right now with no real leadership. Way too many managers/directors with no real “jobs”. Must be consolidated if they’re going to save the company. Severance is minimal and an embarrassment for a company who prides itself on being “trusted”

Friend who works for Crains was told 3 major rounds of layoffs next year.

Such a sad day for Walgreens

Heard Tim was brought on with these consulting firms to completely restructure the company. To say this is the beginning is an understatement.

HR and finance are being offshored, comms/CS are being third partied out to consulting agencies. Cheaper labor is the last hope for an antiquated company gasping for air

The whole support center is less than 5k people now. So, no one is going to remain?

My director is out, he said off record that he was told 5k support staff roles will be moved overseas or cut completely next year

38% reduction in corporate workforce by end of 2025 is what I was told

My manager is gone, she said company is being primed to be sold.

Heard this was exec layoff, mass layoffs will hit in 3 waves next year. Beard middle management will be non existent once they’re done. Regular workers reporting into 1 mainstreamed leadership team.

Members of our team affected today, layoff is effective immediately. I don't understand how leadership can reduce the corporate workforce by 18% in 18 months. We are already short staffed and drowning and will lose people and open roles. Our group supports large scale savings efforts, so this seems like the opposite of what we should be doing to right the ship on finances.

Too many managers/directors, finally realizing their mistakes and cutting the fat. Good/solid workers reporting up to one director, it’s all that’s needed.

Heard a lot of execs are out and their teams will be too once cheaper labor is trained overseas. CVS did the same thing 4 years ago

Heard we are moving downtown, already looking for buyers for DF on dl. Beginning of the end, guaranteed we are bought within the next few years.

Closing Deerfield and announcing a massive re-org in q1. Getting the company primed to sell itself, guaranteed. Heard they are outsourcing the rest of HR, CS, comms, finance and legal.

Heard they are closing Deerfield HQ next year and moving downtown. Mess of a company, circling the hole at this point. only a matter of time.

They have no plan.. They are now laughing stock of the industry.

@yhq+1veADUp3 You know it. "Let's lay off employees whose roles are crucial to the business flow but keep an expensive exec whose value to the company has been shown time and again to be questionable at best! Perfect plan!"

And the mo--ns in charge will still keep Tracey B.