Hundreds of Jobs to Be Cut in Illinois
This latest round of layoffs adds to a series of workforce reductions in recent years, further highlighting the Illinois-based retailer’s ongoing financial difficulties.
Walgreens Boots Alliance, headquartered in Deerfield, Illinois, confirmed Wednesday it will lay off 256 corporate employees, most of whom are based in Chicago.
Over 1,200 Locations Closing in the Next 3 Years
Earlier this month (October 2024), Walgreens announced they would shut down more than a thousand stores within the next 3 years.
According to a report from Supermarket News, this decision comes due to a challenging retail landscape, as the pharmacy giant aims to stabilize its operations and improve profitability.
A Response to Financial Pressures
In a statement given to Supermarket News, Walgreens spokeswoman Megan Boyd acknowledged the difficulty of the decision but stressed its necessity for the company’s financial realignment.
“This action is necessary to position us to rapidly respond to the changing external environment,” Boyd said. Walgreens, which is working to stabilize its core retail pharmacy business, also announced the elimination of 215 unfilled positions.
Impacted employees will receive severance and outplacement support, according to Boyd.
Focus on Retail Pharmacy Turnaround
Walgreens CEO Tim Wentworth has outlined a strategic focus on cost control to stabilize the retail pharmacy giant…