Walgreens announced it will be laying off 160,000 employees because of Obamacare. The largest drugstore chain in the U.S. cannot afford to cover employees’ coverage under the new Obamacare exchanges.
Walgreens decided these layoffs were necessary to buffer the company from the rising healthcare costs, which will double over the next 25 years.
Walgreens’ decision to drop employees comes on the heels of many other nationally recognized companies that have also been forced to make tough choices because of Obamacare. Sears Holding Corp., Daren Restaurants Inc, IBM, GE and UPS, have all made significant changes to their employees’ healthcare coverage due to Obamacare’s exorbitant costs.