Although the layoffs make up 7% of its Boots workforce, it's a tiny fraction of the 440,000 Walgreens employees worldwide. Still, it's a sign of the financial challenges Walgreens faces during the Covid-19 pandemic.Walgreens announced the layoffs Thursday alongside downbeat quarterly results. Adjusted earnings fell more than 43% -- worse than analysts expected -- and the company posted an operating loss of $1.6 billion.Welcome to Walgreens.
" The company stressed that most Boots stores remained open during the lockdown, but premium beauty and fragrance counters were"effectively closed." The company temporarily closed more than 100 larger Boots stores in urban, train station and airport locations, and it furloughed 16,000 workers at the peak of the crisis.
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