Walgreens Boots Alliance is cutting the company’s workforce, cutting hundreds of jobs.
The owner of the pharmacy chain said in a statement to FOX Business that he “made the difficult decision to cut 504 positions, which account for 10% of our workforce.” Walgreens Boots Alliance employs more than 325,000 workers, according to the company’s latest quarterly report.
The workforce reduction was first reported by the Chicago Sun-Times. The outlet reported that Walgreens Boots Alliance white-collar workers in the Deerfield and Chicago offices would be most affected by the layoffs.
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Of the roles eliminated, “none” were “based in our stores, microfulfilment centers or call centers,” according to Walgreens Boots Alliance.
Walgreens Boots Alliance indicated that the job cuts followed the pharmacy chain’s owner being “focused on aligning our structure and streamlining our operations to best serve our patients and customers” as it develops to become a “consumer-oriented healthcare company”.
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In early November, the company contributed $3.5 billion to VillageMD’s purchase of Summit Health-CityMD as backing. According to a press release, the $8.9 billion transaction also included investments from Cigna’s Evernorth.
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Other recent moves it has made in healthcare include closing the purchase of Shield Health Solutions earlier this year and moving to full ownership of CareCentrix, the company said in late March.
Walgreens Boots Alliance, which announced second quarter revenues of $34.86 billion and net income of $700 million, has been around since the combination of two companies – Walgreens and Alliance Boots – nearly a decade ago.
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The company said during its March earnings report that it had paid $5.4 billion for opioid-related legal claims.