FOLLOW US

Across the country, millions of Americans work in stores and restaurants, relying upon these jobs to feed their families. Many do so in the hopes of eventually receiving promotions or pay increases that make their lives more affordable.

Unfortunately, these particular positions are getting further and fewer in between. Earlier this year, 99 Cents Only stores announced the decision to shut down all 371 of its American locations. Red Lobster then joined 99 Cents Only not by leaving the United States, but by shuttering multiple locations across the country.

With each of these closures, at least dozens of working class folks lose paychecks. This raises legitimate questions about the future of the economy. Other people have begun wondering what the future of this country looks like for everyday Americans.

In the wake of all this upheaval, Walgreens now joins the list of brick-and-mortar locations shutting their doors.

Get ready for fewer Walgreens locations in America

Walgreens Boots Alliance CEO Tim Wentworth revealed that Walgreens will discontinue about 1,200 of its stores between now and 2027. In doing so, the company believes this change will facilitate more cash flow, value creation, and consumer benefits.

In the present fiscal year, 500 Walgreens locations alone will meet their demise. The announcement from Wentworth comes as his company has been struggling for quite some time. Amid lowered prescription profits and growing overhead expenses, Walgreens has joined its competitors in failing to meet desired financial benchmarks.

With losses in the millions and billions, the closure of Walgreens stores is a clear effort to cut off expenditures with low returns on investment.

Fewer job opportunities to go around for working class Americans

As more brick-and-mortar locations shut down across the country, the jobs market is bound to take some hits. This comes amid the ongoing rise of artificial intelligence, with many people raising questions about how self-driving cars, robots, and other forms of automation will impact human workers.

Only the years ahead can determine the longstanding ramifications of mass Walgreens closures. Though given the latest economic trends, it's quite likely that more restaurants and stores will shutter their doors in the not-so-distant future.