Walgreens is cutting hundreds of jobs across the U.S. as its new private equity owner, Sycamore Partners, moves to reduce costs and restructure the struggling pharmacy chain. The company is eliminating 469 roles in Illinois, where it is headquartered, and a further 159 positions in Texas, linked to the closure of a distribution center. Walgreens said the layoffs are part of efforts to simplify its organization, speed up decision-making and improve customer service. The cuts follow Sycamore’s acquisition of the business last year after declining profitability, driven by increased competition from online retailers and discount chains, as well as lower insurance reimbursements for prescriptions. Since the takeover, the company has reduced staff, removed some paid holidays and sought to boost store sales by expanding product offerings.
