Walgreens to cut 370 corporate jobs

Walgreens (NASDAQ:WBA) is eliminating 370 jobs from corporate offices, 270 in Chicago. The cuts, which will not affect any stores, are part of the company's restructuring and cost-reduction plan.

Employees will find out whether they are losing their jobs over the course of the month, Chicago Sun-Times reported.

"Like any well-run business, we will continuously evaluate our business and how we adapt to the changing market place," James Graham, a Walgreens spokesperson, told Chicago Sun-Times.

The employees will be offered severance packages and will get 60 days notice.

It has been almost eight months now since the Walgreens Boots Alliance merger was completed. In that time, the company named Stefano Pessina, the leader of the merger, as the permanent CEO.

For more:
-See this Chicago Sun-Times article

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