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Walgreens cutter works in US headquarters because pharmacy cuts costs



Pedestrians walk past a Walgreens store in New York.

Michael Nagle | Bloomberg | Getty Images

Walgreens Boots Alliance has laid off an undisclosed number of employees at the company's headquarters as the pharmacy chain cuts costs, the company said on Monday.

The company notified employees late last week, Walgreens spokesman Jim Cohn said in an email, refusing to say how many people lost their jobs. The layoffs come as Walgreens plans to cut more than $ 1

.8 billion in spending by fiscal year 2022, up from the previously planned $ 1.5 billion. The Chicago Tribune first reported on layoffs.

The company made "selected reductions" at US headquarters in Deerfield, Ill. Last week, CFO James Kehoe told analysts at a conference call where he discussed fiscal revenue in the fourth quarter Monday.

"Further restructuring is underway at the international retail pharmacy, and pharmaceutical wholesale divisions are also working hard to define our new vision," he said. The company has completed a review of its footprint, he said, adding that Walgreens is shrinking and reorganizing its global digital and IT teams under a new chief of information.

Cohn said that the company "modified the structure of the company's support office to drive organizational efficiencies and reduce our cost base while promoting investment in truly differentiating capabilities."

He added that the cuts will not affect any store positions or locations. The company announced earlier this year that it would shut down 200 Walgreens stores.

Managers addressed the cost cuts in the analytics call, saying that the savings are necessary to invest in modernizing the pharmacy chain.

The company reworked the cost reduction program internally to "Save to Invest to Grow."


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