Walgreens Increases Starting Wage for Hourly Team Members
August 31 2021 - 9:00AM
Business Wire
Pay increase recognizes the critical role of
team members in serving customers, patients and communities
Walgreens is further investing in its hourly team members who
provide trusted care and services in communities across the U.S.
Walgreens will increase the starting hourly wage for all team
members to $15.00 an hour, taking effect in phases beginning in
October of this year and are expected to be fully implemented by
November 1, 2022.
“I am extremely proud and grateful of the work our team members
are doing across our 9,000 Walgreens locations serving our
customers, patients and communities each and every day,” said Roz
Brewer, CEO, Walgreens Boots Alliance. “Investing in and rewarding
our team members is not only the right thing to do, it’s highly
important to retaining and attracting a talented workforce, and to
continuing to serve our critical role in community health
care.”
Since the beginning of the pandemic, Walgreens has made
additional investments in support of its team members, including
bonus payments and a significant hiring initiative, through which
the company added 25,000 full-time and part-time pharmacy team
members. Walgreens has also accelerated implementation of remote
and digitalized pharmacy resources to enable pharmacists to spend
more time with patients, and to allow all store team members to
deliver the best service and care to customers and patients.
Total investment to support the starting wage increase is
anticipated to be approximately $450 million over the next three
years, with one-third of the amount invested in Fiscal Year 2022.
The company anticipates that it will partially absorb the
investment through the normal course of business.
Cautionary Note Regarding Forward-Looking Statements: All
statements in this release that are not historical are
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These include, without limitation, statements regarding estimates
of and goals for future operating, financial and tax performance
and results, the expected execution and effect of our business
strategies, the potential impacts on our business of the spread and
effects of the COVID-19 pandemic, estimates of costs and potential
financial impacts related to wage increases and our cost-savings
and growth initiatives and their expected impacts. Words such as
“expect,” “likely,” “outlook,” “forecast,” “preliminary,” “pilot,”
“project,” “intend,” “plan,” “goal,” “target,” “aim,” “continue,”
“believe,” “seek,” “anticipate,” “upcoming,” “may,” “possible,” and
variations of such words and similar expressions are intended to
identify such forward-looking statements.
These forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties and
assumptions, known or unknown, that could cause actual results to
vary materially from those indicated or anticipated. These risks,
assumptions and uncertainties include those described in Item 1A
(Risk Factors) of our Annual Report on Form 10-K for the fiscal
year ended August 31, 2020 and in other documents that we file or
furnish with the Securities and Exchange Commission. If one or more
of these risks or uncertainties materializes, or if underlying
assumptions prove incorrect, actual results may vary materially
from those indicated or anticipated by such forward-looking
statements. All forward-looking statements we make or that are made
on our behalf are qualified by these cautionary statements.
Accordingly, you should not place undue reliance on these
forward-looking statements, which speak only as of the date they
are made. We do not undertake, and expressly disclaim, any duty or
obligation to update publicly any forward-looking statement after
the date of this release, whether as a result of new information,
future events, changes in assumptions or otherwise.
About Walgreens
Walgreens (www.walgreens.com) is included in the United States
segment of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), a global
leader in retail pharmacy. As America’s most loved pharmacy, health
and beauty company, Walgreens purpose is to champion the health and
well-being of every community in America. Operating more than 9,000
retail locations across America, Puerto Rico and the U.S. Virgin
Islands, Walgreens is proud to be a neighborhood health destination
serving approximately 8 million customers each day. Walgreens
pharmacists play a critical role in the U.S. healthcare system by
providing a wide range of pharmacy and healthcare services. To best
meet the needs of customers and patients, Walgreens offers a true
omnichannel experience, with platforms bringing together physical
and digital, supported by the latest technology to deliver
high-quality products and services in local communities
nationwide.
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