Walgreens to cut 628 jobs

Walgreens is laying off hundreds of employees in two states as its new private equity owner looks to cut costs, Bloomberg reported Feb. 19.

The company is eliminating 469 jobs in Illinois, where it is based, and plans to cut another 159 positions in Texas, where it is closing a distribution center. The figures were disclosed in letters sent to the states earlier in February, the report said.

Walgreens was acquired in August by Sycamore Partners after years of declining profitability. In a letter to the Illinois Department of Commerce and Economic Opportunity, a Walgreens representative said the company is reorganizing areas of the business “to best position the company for growth and deliver results where they matter most: in our stores and with our customers and patients.”

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