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Walgreens Boots Alliance has announced the suspension of its quarterly dividend payment to shareholders, marking the first time in 92 years that the company has opted not to distribute cash dividends. The decision, reported on January 30, 2025, comes as the Deerfield-based retail pharmacy faces ongoing financial difficulties. In an effort to streamline operations, Walgreens plans to close approximately 1,200 stores over the next three years, including locations in Chicago. The company has been implementing cost-cutting measures, which include recent layoffs in Illinois and other regions. According to Walgreens, the suspension of dividends is designed to assess and refine its capital allocation policy as part of a broader turnaround strategy. A company release emphasized that cash needs associated with litigation and debt refinancing critically influenced the decision. Walgreens reported a substantial net loss of $265 million in the first quarter of this year, in stark contrast to a loss of $67 million in the same quarter the previous year.

Costco Wholesale has announced plans to increase hourly pay for most of its U.S. store workers to over $30, according to a memo distributed to employees this week. The wage hike will implement a $1 increase annually for the next three years, beginning with a rise to $30.20 in the first year. Additionally, workers at the bottom of the pay scale will see their wages increase by 50 cents to $20. This decision comes amid contract negotiations between Costco and the Teamsters union, which represents over 18,000 employees. The union recently revealed that 85% of its members voted in favor of a nationwide strike as talks approach a January 31 deadline. Costco emphasized in the memo, signed by CEO Ron Vachris, that the changes would ensure that their hourly wages and benefits continue to surpass those offered by competitors in the retail industry. As labor relations become increasingly contentious across various sectors, this move may help Costco maintain its workforce and improve employee morale.

The Archbishop of New Orleans, Gregory Aymond, has removed top leaders of Second Harvest, a church-affiliated food bank, after they allegedly resisted pressure to contribute $16 million towards settling claims of child sexual abuse against clergy. The dismissals, announced on January 30, include board chairperson Bert Wilson and President Natalie Jayroe, who served for 19 years. The former leaders contend that they were forced out for refusing to allocate funds intended for anti-hunger efforts to the church’s bankruptcy settlement. According to various sources, Second Harvest is a non-profit governed independently, although tied to the archdiocese. Aymond’s letter did not detail reasons for the firings, but he assured that operations at Second Harvest would not be affected. Critics, including former committee chair James Adams, argued that Second Harvest should not be liable or expected to contribute to settlements as it does not directly engage with children in the church's context. The archdiocese filed for bankruptcy in May 2020 to handle over 500 abuse claims against its clergy.