Walgreens’ total investment to support the starting wage increase is anticipated to be approximately $450 million during 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.
“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.”
Walgreens noted that, since the beginning of the pandemic, it has made additional investments in support of employees, including bonus payments and a significant hiring initiative, through which the company added 25,000 full-time and part-time workers.
Walgreens, the U.S. division of Walgreens Boots Alliance, operates more than 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands.