An Essential Retailer Is Now Laying Off 145 Employees
An essential retailer is now laying off 145 employees, mostly in its corporate workforce, a spokesperson confirmed.
In November, Walgreens laid off 5% of its corporate workforce, capping off a year of hundreds of announced store closures, a previous round of layoffs and turnover in the C-suite.
The latter included the departure of its CEO, CFO, CIO, chief medical officer and chief marketing officer, RetailDive reports.
In June, the retailer said it would close 150 stores in the U.S. and 300 in the U.K., part of a cost-cutting effort that targets at least $800 million in savings in 2024, for an accumulation of $4.1 billion in savings.
The company has a ways to go in that plan, however.
“While Walgreens continues to progress on reducing costs and delivering on our commitments to be the independent healthcare provider of choice, we still have significant cost savings and growth goals to deliver,” the spokesperson said.
“To help us achieve these goals we have made the difficult but necessary decision to lay off 145 team members primarily from our corporate workforce.”
Last month the retailer slashed its dividend as it reported a fiscal Q1 dragged down by its U.S. stores, where sales fell 6.1%, and comparable retail sales fell 5%.
At the company’s U.K. Boots locations, by contrast, retail comps rose 9.8% year over year, store footfall rose 7% and its retail market share grew for the 11th straight quarter, led by beauty.
Walgreens has also announced that the Duane Reade location in Midtown Manhattan, New York, will shutter in weeks.
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Also Read: Three Massive Restaurant Chains Now Begin Closing Locations
Other Economy News Today
A California restaurant now announces an unexpected closure after a long 20 year run in Downtown Disney.
Tortilla Jo’s announced it would be closing its Downtown Disney location at Disneyland in Anaheim, California, on Wednesday.
Customers are heartbroken, reports The-Sun.
The location will officially close down on March 31st.
Tortilla Jo’s is described as a lively restaurant in the heart of Downtown Disney.
“Savor authentic south-of-the-border specialties in a vibrant setting in the heart of the Downtown Disney District,” a description from Disney reads.
“A bright, welcoming space provides a casual yet festive backdrop for celebrations and impromptu dining alike.
“Enjoy your meal on the patio, amidst charming Spanish tiles, ceramic pottery, and rustic wooden furniture, or bask in the beautiful SoCal weather on the spacious Cantina Terrace surrounded by string lights and the energy of the promenade.”
Tortilla Jo’s served Disneyland goers for 20 years.
The Mexican restaurant announced it would be closing in an Instagram post.
“To our Tortilla Jo’s familia, thank you for an incredible 20 years!” Tortilla Jo’s said in the post.
“Our last day of service will be March 31 — don’t miss your chance to enjoy your favorite dishes and raise a glass to all the memories we’ve made together over the past two decades.
“Visit us one last time and celebrate Tortilla Jo’s!”
The Mexican restaurant said it will be having special closing deals coming soon to look out for.
It also said that its ventures with Disney have not come to a complete end and that the brand will have new Mexican restaurants coming to Downtown Disney in 2024 as well.
It is currently unclear what these new restaurants will be like.
“Stay tuned as we share our final specials and more details on our newest Downtown Disney Mexican restaurants coming in 2024.”
Tortilla Jo’s has another pop-up called Taqueria by Tortilla Jo’s that will also be closing on April 13.
“Taqueria by Tortilla Jo’s will stay open until April 13,” the post added.
Dedicated fans of Tortilla’s Jo’s expressed their sadness about the restaurant closing in the comments of the post.
Also Read: A US Company Now Declares An Unexpected Bankruptcy
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