“Pharmageddon” begins as Walgreens workers walk out

The Street

TheStreet’s Sara Silverstein brings you the biggest news of the day including how the markets fared and why hundreds of Walgreens pharmacies are closing.

Transcript

00:00 I'm Sarah Silverstein reporting from the New York Stock Exchange.

00:03 Stocks were in the green to close out today's session.

00:05 The Dow closed nearly 200 points higher.

00:07 NASDAQ closed up just under four-tenths of a percent, and the S&P closed up six-tenths

00:12 of a percent.

00:13 These gains come despite the fact that Wall Street is continuing to react to the ongoing

00:17 Israeli-Palestinian conflict.

00:19 The tensions in the Middle East have caused oil prices to rise pretty significantly, but

00:23 analysts believe the surge is only temporary.

00:26 Meanwhile, Walgreens is the latest company to have frustrated workers hit the picket

00:30 lines.

00:31 In what some are referring to as "Pharmageddon," pharmacists and other employees are walking

00:35 off the job.

00:37 The strikes are planned for October 9th through October 11th, and employees from 500 stores

00:41 have pledged to walk out.

00:43 Walgreens has 9,000 stores nationwide.

00:46 Pharmacists for the company say they are overworked, understaffed, and receive unrealistic expectations

00:51 from corporate management.

00:52 They added that the company often focuses on profit over patient safety.

00:57 Unlike United Auto Workers or Kaiser Permanente, Walgreens employees are not represented by

01:01 a union, so any walkout is being planned by word of mouth or on social media.

01:06 In response to the planned strikes, Walgreens said, "We are committed to ensuring that our

01:10 entire pharmacy team has the support and resources necessary to continue to provide the best

01:16 care to our patients while taking care of their own well-being."

01:19 That'll do it for your daily briefing.

01:21 From the New York Stock Exchange, I'm Sarah Silverstein with The Street.

01:24 you

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