Wednesday, March 13, 2019

Rite Aid CEO Standley Is Out In 'Managerial' Purge Of 400 Jobs

Rite Aid announced the end of John Standley's nine-year run as chief executive officer following a period of shareholder unrest and two failed mergers that have left the drugstore chain's stock price trading at less than $1 for months.

Rite Aid's board Tuesday evening said about 400 full-time jobs will be cut as part of the plan described as an effort to "reduce managerial layers and consolidate roles across the organization.". . . more