The Telegraph reports that the news that Boots could be bought out by KKR – once described as the “barbarian at the gates” - has caused alarm among some of Boots 100,000 employees, who fear job losses in the group’s workforce if the takeover bid becomes a reality. In recent years Boots has tried various attempts at diversification, however, the attempts to diversify were largely unsuccessful. Currently, the pharmacy chain has nearly 1,500 outlets.
PRimage can see why many of Boots employees are worried about job losses. Judy Viitanen believes that a private equity bid must also raise the issue that the company could be vulnerable to asset stripping.
Boots staff have seen a number of changes in recent years: in the 1990s the company branched into dentistry, laser eye surgery and ‘wellbeing clinics’ and health advice – and it’s also been faced with stiff competition from the supermarket multiples. Then in 2005 it merged with Alliance UniChem. Lets hope that the Boots employees current concerns on job losses are not justified!