Walgreens cuts jobs at its US headquarters as drugstore chain slashes costs


Pedestrians walk past a Walgreens store in ny.

Michael Nagle | Bloomberg | Getty pictures

Walgreens Boots Alliance has arranged  off associate unrevealed variety of staff at its company headquarters because the store chain cuts prices, the corporate same Mon.

The company notified staff late last week, Walgreens spokesperson Jim phytologist same in associate email, declining to mention what number individuals lost their jobs. The layoffs return as Walgreens plans to chop over $1.8 billion in expenses by financial year 2022, up from the antecedently planned $1.5 billion. The Chicago apsis 1st reported  the layoffs.

The company created "select reductions" in its U.S. headquarters in Deerfield, Ill. last week, CFO James Kehoe told analysts on a phone call discussing its commercial enterprise fourth-quarter earnings Mon.

"The extra restructuring is current in our retail pharmacy international, and pharmaceutical wholesale divisions also are operating arduous to outline our new vision," he said. the corporate has completed a review of its property footprint, he said, adding that Walgreens is shrinking and reorganizing its international digital and IT groups beneath a brand new chief data officer.

Cohn same {the company|the company} was "modifying our corporate support workplace structure to drive structure efficiencies and cut back our value base, whereas promoting investment in really differentiating capabilities."

He additional that the cutbacks will not have an effect on any store positions or locations. the corporate earlier this year declared it might shutter two hundred Walgreens stores.

Executives addressed  the price cuts on the analyst decision, speech communication the savings area unit necessary to speculate in modernizing the pharmacy chain.

The company rebranded the cost-cutting program internally to "Save to speculate to Grow."
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