Walgreens laying off 10% of corporate staff
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Walgreens Boots Alliance (NASDAQ:WBA) is reducing its corporate staff by about 10%, with most of the cuts impacting employees at the drugstore chain's Deerfield headquarters or its Chicago office, a company spokesperson said.
Accordingly, 504 corporate employees will be laid off, Walgreens (WBA) spokesman Marty Maloney confirmed, noting that none of the staff at WBAâs stores, micro fulfillment centers, or call centers will be part of the staff reduction.
"We're grateful for the many contributions by the team members who will be leaving our organization, and are committed to supporting them as much as possible during this transition," Maloney remarked.
He ruled out a link between the layoffs and the company's liabilities. Walgreens (WBA) swung to a net loss of $3.0B during the first six months of fiscal 2023, driven by a $5.4B after-tax charge to cover opioid-related claims and litigation.
The layoffs are part of a series of measures the company is implementing "to drive sustainable cost savings to help fuel investments for future growth," Sun-Times reported quoting a memo issued by CEO Rosalind Brewer to employees.
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