Walgreens Boots Alliance cutting hundreds of corporate jobs
The layoffs will impact just over 500
Walgreens Boots Alliance is trimming its corporate headcount, eliminating hundreds of jobs.
The pharmacy chain owner said in a statement to FOX Business it was "making the difficult decision to eliminate 504 roles, which account for 10% of our corporate workforce." Walgreens Boots Alliance employs over 325,000, according to the company’s latest quarterly earnings report.
The workforce reduction was first reported by the Chicago Sun-Times. The outlet reported Walgreens Boots Alliance's white-collar employees based at the Deerfield and Chicago offices would be most impacted by the layoffs.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The Walgreens logo (AP Photo/Charles Krupa / AP Images)
Of the eliminated roles, "none" were "based at our stores, microfulfillment centers or call centers," according to Walgreens Boots Alliance.
Walgreens Boots Alliance indicated the job cuts followed the pharmacy chain owner being "focused on aligning our structure and streamlining our operations to best serve our patients and customers" as it moves to become a "consumer-centric health care company."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WBA | WALGREENS BOOTS ALLIANCE INC. | 9.09 | +0.03 | +0.28% |
In early November, the company contributed $3.5 billion toward its VillageMD’s purchase of Summit Health-CityMD as support. The transaction, valued at $8.9 billion, also involved investment from Cigna’s Evernorth, according to a press release.
WALGREENS COMBINES VILLAGEMD AND CITYMD IN $8.9 BILLION DEAL
Other recent moves it has made in the health care sector include finishing its purchase of Shield Health Solutions earlier this year and moving to have full ownership of CareCentrix, the company said in late March.
Signage at a Walgreens pharmacy in Louisville, Ky., March 24, 2022. (Luke Sharrett/Bloomberg via Getty Images / Getty Images)
Walgreens Boots Alliance, which disclosed it had $34.86 billion in sales and $700 million in net earnings for the second quarter, has existed since the combination of two companies — Walgreens and Alliance Boots — nearly a decade ago.
WALGREENS AGREES TO PAY NEARLY $230 MILLION FOR SAN FRANCISCO OPIOID SETTLEMENT
The company said during its March earnings report it had paid out $5.4 billion for opioid-related legal claims.