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I have to correct you, sir. The fact that your OT was cut is evidence that businesses, particulary WAG is IN touch.
When you accepted a job with Walgreens, you agreed to a standard rate of pay. This standard rate of pay, times 80 hours = your bi-weekly paycheck. 26 of these equals your annual rate of pay.
The company agreed that, when needed, you would be employed above and beyond the standard work week at a rate of time and a half.
If the company decides to employ you only for the agreed upon amount, please explain how that is somehow shorting you? This is not a pay CUT; rather, this is a curtailment of excessive expenditures on the part of the company.
Yes, if you cannot get overtime, you will earn less, annually. But it's not a CUT in your agreed upon rate, right? You CAN use that additional time that you WERE working (the overtime amount) to find other employment, at a rate of pay of 1.5 times your standard rate of pay.
For shareholders, cutting overtime is a huge expense savings, so thanks for letting us know that the company is being proactive for the shareholders.
Sorry, but you could not be more incorrect.
Typical of Deerfield plants assigned to do spin/damage control.
Upon being hired, MGTs were promised an annual compensation. To meet that compensation rate, four hours of overtime per week were included in the normal 40-hour week. With twenty-six pay periods in the year, MGTs were to average eight hours of overtime for each pay period in order to meet the promised compensation.
That additional four hours is significant. For the average beginning MGT, it equals $22.5/hour, $90 per week, $180 per pay period.
In total, it averages $4680 per year for a first-year MGT. For an MGT who is not on the (dead-end) career path and is vested, the (promised) overtime equates to $25.35 per hour, $101.40 per week, $202.80 per pay period.
Annually, it amounts to $5272.80.
Again, I know of a good number of MGTs who have this in writing from the (then) recruiters and/or DMs. This was rampant in the Texas markets because it was basically the only way Walgreens could lure young college graduates into the management-training program. Other retailors were offering more attractive compensation and benefits packages.
At the time of all of this, during good ol' Dose of Dave's tenure, I'm sure there was never any intention to break this promise or agreement with MGTs. But usher in the new crowd, and voila--the field and stores get screwed without so much as even a sympathetic kiss.
It doesn't surprise me that a Deerfield spinmeister doesn't get it right. It's not that a Deerfield spinmeister CAN'T get it right, it's that the Four Way Test has become absolutely meaningless from Wasson and the BoD all the way down to most DM levels.
Lies, deceipt, spin, and above all--hypocrisy--are the new Four Way Test.
My suggestion to any MGT employed with Walgreens is to immediately cancel your Profit Sharing. To do this, you have to send in a hard-copy letter.
In the letter, include your Employee ID, name as it appears on your payroll check, Store number and address, and request that any and all contributions to your Profit Sharing/401(k) plan be halted immediately upon receipt of the letter.
The mailing address to do this is:
104 Wilmot Road, MS 1410
Deerfield, IL 60015-5121
If you mail this immediately, your profit sharing will be halted by this next paycheck due on February 20.
There are approximately 16,000 MGTs/Asst. Mgr's working for Walgreens right now. If the vast majority of MGT's immediately pull their profit-sharing, I would predict that the overtime or promised compensation will be back within 90 to 180 days.
Otherwise, when Wall Street sees that even Walgreens store management is not investing, it will take maybe two, possibly three weeks for WAG stock to sink to junk bond status.
Next up on the block are EXA raises and bonuses. Deerfield is counting on attrition at the store manager level, and using that as bait to the EXAs to "be patient and stick with us until we can find you a store."
And finally, for 2010, Store Managers can look forward to A) increased cost for their healthcare premiums and B) between a 25 and 40% reduction in annual bonus.
Will the last honest person in Deerfield please turn out the lights when you leave?
Thank you! So the person who isn't an assistant at walgreens and wasn't in my interview can shut their mouth. Hopefully it works! I feel like I've given up my life for this company and now all of this crap is happening. I should have known to start looking for another job as soon as I noticed that our CEO left walgreen to work for JC penney.
Do you work for walgreens? You don't sound like you do. Well, when you get the job as an assistant, they tell you that you are guaranteed 4 hours of overtime everyweek. We are all losing out on a lot. I understand what they are doing, but they did tell us that our salary would include the guaranteed overtime, not what you were talking about. Every assistant that works for Walgreens has a reason to be upset.
I do not work for WAG nor have I ever worked for WAG.
However, you need to understand business.
So you are working 44 hours a week correct? Of which you get paid straight time for 40 hours and time and a half for 4 hours, correct?
Now what is interesting is that pharmacy managers get paid 40 hours plust 2 hours OT for a total of 42 hours. If they need to spend more time on paperwork etc, they do not get paid for it.
Do you have it in writing that they "guarantee" you four hours of OT?
I am not trying to be a hard ass here, but you need to look at this from an unbiased position. If this is true, and I cannot assume it is since you could be making this up. But if it was true, know the reason why.
Let me ask you this. Are you ready to walk away from this job and get another one?
Its quite obvious you were never interviewed for an assistant manager position at Walgreens. For one it is guaranteed that you will have the four hours of overtime. In fact that is factored into the annual salary sales figures pitch that they give everyone for that position. I suggest you stop talking out your a$$ and get your facts straight. Maybe when your boss calls you into the office and tells you that your pay is getting cut by at least 10%, AFTER your company posted profits, then you can talk.
They did not guarantee 4 hours of overtime in writing. They signed these people up for full time positions. Whatever the minimum number of hours for full time is at Walgreens (at some retailers it is 32), that is all that these hourly Assistant Managers are entitled to.
I know of excessive abuse over the years where hourly Assistant Managers were working 10-15 hours of Overtime each week and making a huge amount of income in what appeared to be uncontrolled overtime. In most retail chains, overtime is unheardof. The hourly people work and do not get ANY overtime, EVER, no exceptions. Any extra work must be done by those who are salaried.
Most Walgreens Assistant Managers I see spend a disproportionate amount of time doing things like stocking shelves and being a cashier. They could hire a regular employee to stock shelves for a lot less money and way more efficiently since the Assistant Manager who is stocking keeps getting interrupted.
CVS and Rite Aid only have one store manager and one assistant per store (except some higher volume 24hr stores); then they have Shift Supervisors who are paid far less than Walgreens hourly assistants are.
I can see why this took place; too much overtime abuse for so long. Those working the 4 hours overtime each week did nothing wrong, but are paying for those who worked 10-15 hours overtime each week and took advantage.