Walgreens Boots Alliance is continuing to layoff workers, with the latest number at 80 corporate jobs from its offices in Chicago and Deerfield, Ill., according to Crain’s Chicago Business.
Crain’s obtained the termination notice from an internal memo. However, Walgreens has not responded to a request for comment regarding this latest round of layoffs.
Walgreen’s was acquired by private equity firm Sycamore Partners in August for approximately $10 billion. Several industry experts have predicted the deal would most likely lead to layoffs and store closures.
Shane Jerominski, co-founder of the pharmacy workers union The Pharmacy Guild, told Healthcare Brew that the acquisition by a private equity firm raises serious concerns for pharmacy professionals and patients.
Jim Baker, executive director of the nonprofit Private Equity Stakeholder Project (PESP), highlighted Sycamore’s history of bankruptcies, layoffs, and cost-cutting measures.
For some time, layoffs have been part of Walgreens’ strategy. Back in May of 2023, the retailer cut 504 corporate jobs, representing about 10% of its corporate workforce. Just months later, the company announced the closure of an e-commerce center in Illinois, which eliminated another 400 roles. In November 2023, the company cut 267 corporate-level employees , followed by another round of cuts in January that affected 145 mostly corporate positions. In October 2024, Walgreens eliminated 256 additional corporate roles and announced plans to close approximately 1,200 stores.
These layoffs and closures have remained a focus since then-CEO Tim Wentworth announced during a 2023 earnings call that Walgreens aimed to cut $1 billion in operating expenses.
