Walgreens is set to close five locations across Los Angeles and Orange counties in the coming weeks — a move that could result in at least 93 job losses as the struggling retailer moves ahead with a downsizing that will see around 1,200 closures nationwide.
The pharmacy chain will shutter stores in Whittier, downtown Los Angeles, Orange, Placentia and Stanton, according to a notice submitted to California’s Employment Development Department.
The store closures will lead to layoffs for a range of employees, including pharmacists, pharmacy technicians, cashiers, store managers and inventory specialists.
Last month, Walgreens’ top executive said that the company was seeing a 52% increase in “shrink” — an industry term which means loss of inventory that cannot be accounted for through sales or other legitimate means.
Tim Wentworth, CEO of parent company Walgreens Boots Alliance Inc, said that anti-theft measures such as locking up items behind glass encasing led to reduced sales. […]
— Read More: nypost.com
