Walgreens managers lose thousands in bonuses: 3 things to know

Walgreens is cutting thousands of dollars of bonuses for many store managers and other executives, sources familiar with the matter told the Chicago Tribune.

Here are three things to know:

1. The decision comes after Walgreens made several other changes to employees' benefits, like pledging to spend $100 million to raise hourly wages for workers. The retail and pharmacy benefit manager also said that in 2019 it will not provide paid time off for employees who work less than 30 hours a week. The current threshold is 20 hours. Walgreens will also drop health insurance for some of its retirees after 2019.

2. Walgreens notified managers and executives about the bonus changes in late October, according to the Chicago Tribune, which cites sources familiar with the situation. Store managers and other executives receive bonuses each year based on performance metrics and are expecting much lower ones in 2018 than typical.

3. Brian Faith, a spokesperson with Walgreens, did not provide more details about employee compensation to the publication. Walgreens operates more than 9,500 stores nationally.

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