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In their latest SEC filing, WAGs is expecting a cost of $200-300m due to “lease obligations and real estate costs.” This is consistent with their aforementioned 200+ store closure.
But the real gem is this: a $600-700m cost for “employee severance and business transition” effective Sept 1. Now, I’m no math whiz but a simple calculation dictates that thousands will have to be laid off in order to achieve a sum of $700m. Assuming they paid out each pharmacist $200k, they’d have to lay off 3,500 pharmacists in order to reach that figure.
So is doomsday Sept 1? Guess we’ll see in a week!