Walgreens Boots Alliance cuts hundreds of corporate jobs

Walgreens Boots Alliance is downsizing, cutting hundreds of jobs.

The drugstore chain owner said in a statement to FOX Business that he was “making the difficult decision to eliminate 504 positions, which represent 10% of our workforce.” Walgreens Boots Alliance employs more than 325,000 people, according to the company’s latest quarterly earnings report.

The downsizing was first reported by the Chicago Sun-Times. The outlet said white-collar Walgreens Boots Alliance employees based in the Deerfield and Chicago offices would be hit hardest by the layoffs.

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Of the eliminated roles, “none” were “based in our stores, micro-fulfillment centers or call centers,” according to Walgreens Boots Alliance.

Walgreens Boots Alliance said the job cuts followed as the pharmacy chain owner “focused on aligning our structure and streamlining our operations to better serve our patients and customers.” as it evolves into a “consumer-centric healthcare company”.

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In early November, the company paid $3.5 billion for VillageMD’s purchase of Summit Health-CityMD as backing. The transaction, valued at $8.9 billion, also involved an investment from Cigna’s Evernorth, according to a press release.

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Other recent steps it has taken in the healthcare sector include completing its purchase of Shield Health Solutions earlier this year and moving to full ownership of CareCentrix, the company announced in late March.

Walgreens Boots Alliance, which reported revenue of $34.86 billion and net income of $700 million in the second quarter, has been in existence since the merger of two companies – Walgreens and Alliance Boots – nearly ten years.

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The company said during its March earnings report that it paid out $5.4 billion for opioid-related legal claims.

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