Pharmacy giant Walgreens has eliminated six paid holidays for hourly store workers following its acquisition by a private equity firm, according to Bloomberg.com.
Aiming to cut costs, the company eliminated paid vacation leaves for Thanksgiving, Christmas, and other major holidays for hourly store employees, according to reports. The move comes just weeks after Walgreens was purchased by Sycamore Partners as part of a $10 billion deal, Investing.com reported.
Previously, full-time hourly store employees received pay for Thanksgiving, Christmas, New Year’s, Memorial Day, Fourth of July, and Labor Day even if they didn’t work, according to reports. Employees who worked those holidays received additional pay.
Now full-time hourly workers will only be paid for holidays if they actually work on those days, receiving extra holiday pay, according to Investing.com.
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