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Walgreens' pharmacists may strike

Walgreens' pharmacists may strike
Midwestern union representing 400 stores rejects Walgreens' offer, citing workload concerns.
June 29, 2005: 4:32 PM EDT

NEW YORK (CNN/Money) - A union representing 1,200 Walgreens pharmacists rejected the company's contract offer Wednesday, creating the possibility of a strike at 400 stores in Northern Illinois and Northwest Indiana, according to the union.

National Pharmacists Association (NPhA) members authorized a walkout on June 12, but have not yet decided on a strike date.

Shares of Walgreens (down $0.67 to $46.62, Research) slumped 1.75 percent in late trading Wednesday.

NPhA has been negotiating since mid-June with the company, when the pharmacists' previous contract expired.

The union cited insufficient staffing, a lack of trained technicians and a growing workload as the reasons for rejecting Walgreens' offer.

Walgreens posted a 20 percent gain in earnings for the third quarter, driven by sales of generic drugs and digital-photo processing.


LINK: http://money.cnn.com/2005/06/29/news/fortune500/walgreens/index.htm