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.
