Walgreens Announces Plans to Close Hundreds of Stores

Walgreens, the Deerfield-based pharmacy chain, reported lower earnings on Tuesday compared to the same quarter last year. The company expects to close 150 locations in the United States and 300 locations in the United Kingdom due to decreased consumer spending and a lack of demand for COVID vaccines. CEO Rosalind Brewer said Walgreens is increasing its cost-savings efforts to $4.1 billion and “taking immediate actions” for their U.S healthcare segment with an aim of optimizing profitability. Additionally, they are eliminating more than 500 roles or around 10% of its corporate and US office support workforce; all workers at their Edwardsville, Illinois distribution center will soon be given a 60-day notice as this work will now be done by employees at drugstores it once served.