Walgreens ends paid holiday vacation for hourly workers

Hourly employees at Walgreens will no longer receive paid vacation time for six major holidays, including Thanksgiving and Christmas.

This decision follows Walgreens' recent acquisition by Sycamore Partners, a private equity firm based in New York City. The firm also owns Staples, Ann Taylor and LOFT among others.

Last month, Walgreens announced layoffs affecting approximately 80 corporate employees.

In the previous year, the company revealed plans to close around 1,200 underperforming stores.