THE WHAT? Walgreens has eliminated paid holidays for full-time hourly store employees as part of cost reductions following its US$10 billion acquisition by Sycamore Partners.

THE DETAILS The policy removes paid leave for six major U.S. holidays, requiring employees to work those days to receive pay, though holiday premium rates still apply. The shift comes amid broader cuts, including corporate layoffs, office closures, and ongoing store rationalisation. Walgreens has faced prolonged financial pressure from declining reimbursement rates, rising competition, and a decade-long stock slump.

THE WHY? The cuts underscore Sycamore’s push to reduce operating costs as Walgreens restructures under sustained margin and traffic pressures in retail pharmacy.

Source: Bloomberg