Walgreens cuts six paid holidays for hourly workers after recent acquisition

(CNN) — Hourly Walgreens employees will no longer receive paid time off for six major holidays, including Thanksgiving and Christmas, according to reporting from CNN.

The change comes about a month after the pharmacy giant was acquired by private equity firm Sycamore Partners. It follows recent workforce reductions — Walgreens announced last month it was laying off about 80 corporate employees.

The company has been undergoing significant restructuring efforts. Last year, Walgreens said it planned to close approximately 1,200 underperforming stores nationwide.

Walgreens has not responded to CNN’s request for comment.