Walgreens axes corporate bonuses for 2023

U.S. pharmacy chain Walgreens is canceling corporate bonuses for the year, the company notified staffers Tuesday.

Walgreens will also steeply cut the bonuses for its pharmacy and store management teams.

Pharmacy managers will reportedly still be able to earn up to 25% of their expected bonus, contingent on performance reviews. 

The move comes as Walgreens faces ongoing labor issues and disappointing earnings reports, with the company’s shares currently sitting down 40% for the year.