Walgreens Drops Paid Holiday Benefit for Hourly Store Staff After Sycamore Takeover

Overview

• Walgreens removed pay for Thanksgiving, Christmas, New Year’s Day, Memorial Day, Independence Day, and Labor Day for full-time hourly store staff unless they work those days.
• Employees were notified in early October, a little over a month after Sycamore Partners closed its roughly $10 billion deal for Walgreens.
• Workers who take holiday shifts will still receive extra holiday pay, but interviews and records indicate annual earnings will drop by hundreds of dollars, with one manager estimating a loss of more than $1,000.
• Some managers said there may not be enough holiday shifts for all who want them, limiting workers’ ability to recoup lost pay.
• The change follows about 80 corporate layoffs and a planned closure of the downtown Chicago office, while CVS says it offers seven paid holidays with time-and-a-half for those who work.