Walgreen to cut 1,000 jobs outside its drugstores

Here's an article about our neighbor, next door.

 

CHICAGO (Reuters) – Walgreen Co (WAG.N) plans to cut about 1,000 jobs outside its drugstores, its first major staff reduction, as it works on trimming costs and improving its operations in a recession.

Walgreen is offering early retirement and severance programs to its corporate staff and those in field management jobs such as district managers and district pharmacy supervisors.

The cuts are part of a "Rewiring for Growth" plan that Walgreen unveiled at an analyst meeting in October. Under the program, the company aims to save $1 billion per year by fiscal 2011.

Another part of its strategy is to open fewer stores. Walgreen has trimmed its store opening plans twice in the past six months as consumers spend less on everything from medications to makeup.

 

Read full article: http://news.yahoo.com/s/nm/20090108/bs_nm/us_walgreen;_ylt=AqnVWEORo0xAn_TOUrpv7uTv5rEF