Walgreens Cuts Worker Holidays, CEO Enjoys $16 Million Stock
Walgreens is reportedly axing paid holidays for its hourly workforce, including Christmas and Thanksgiving, forcing employees to choose between family time or lost wages (Newsweek, 2018). This 'cost-saving' measure comes from a company whose former CEO, Roz Brewer, netted a reported $16.1 million in total compensation in 2022, including $12.3 million in stock. (Source: Wall Street Journal, 2023).
It appears some wallets are more sacred than others. One might wonder if the C-suite found their holidays too much of a burden when deciding to trim the fat from the bottom up. Apparently, for billion-dollar corporations, 'fiscal responsibility' rarely begins at home, especially when 'home' means lavish executive bonuses and not, say, the struggle of an hourly pharmacy tech.