All articles tagged with #financial pressures
DePaul University laid off 114 staff members due to a budget shortfall caused by rising costs and a significant drop in international graduate student enrollment, and is implementing a strategic plan to address financial challenges and invest in future initiatives.
The article discusses internal and external challenges faced by Planned Parenthood North Central States in Minnesota, including staff complaints about management, a toxic work environment, financial struggles due to federal funding cuts, and recent clinic closures, highlighting a crisis in organizational stability and staff morale.
A Goldman Sachs study reveals that more Americans are living paycheck to paycheck, with 42% of younger workers having no savings after expenses, making retirement savings increasingly difficult due to rising costs of essentials like housing and healthcare. The shift from pensions to 401(k)s has placed more responsibility on individuals, many of whom feel unprepared for retirement, highlighting the need for new strategies and policy changes to address the growing financial insecurity.
Walgreens, facing financial pressures and labor issues, has announced the cancellation of corporate bonuses for its staff and significant reductions in bonuses for store and pharmacy managers. The decision comes as the company deals with disappointing earnings and ongoing walkouts by pharmacy staff demanding improved working conditions. Walgreens' fiscal problems include mounting debt, budget cuts, theft, leadership turnover, and understaffing. The cancellation of bonuses is unrelated to labor matters, according to the company. The move follows a credit rating downgrade and a decline in Walgreens' stock price. CVS, another major drugstore chain, is also facing worker unrest and a decline in its stock price.
Rite Aid, one of the largest pharmacy chains in the US, is reportedly preparing to file for Chapter 11 bankruptcy to restructure its $3.3 billion debt and address lawsuits related to the unlawful filling of opioid prescriptions. The filing would pause the claims against the retailer and potentially consolidate them in one place. Rite Aid has been facing financial pressures, reporting a net loss of nearly $307 million in the last quarter. The company's bankruptcy risk potential has been deemed significantly higher than average, and it has made targeted reductions to its expenses in an effort to achieve growth in the coming years.