Pharmacy chain Walgreens to close more than 450 stores across the U.S. and UK.
Pharmacy chain Walgreens plans to close 150 of its stores across the United state.
Walgreens plans to close 300 more in the United Kingdom as the pharmacy chain faces 'emerging challenges'.
Walgreens Pharmacy has not announced yet which locations will be closed.
The closing is expected before the end of Walgreens' fiscal year in May 2024, according to reports.
James Kehoe, executive vice president, and global chief financial officer of Walgreens Boots Alliance, said Tuesday that...
"Ongoing cost-saving initiatives at Walgreens include job cuts of more than 500 corporate personnel"
Store closures are one of the pharmacy chain Walgreens' cost-saving measures.
Walgreens reported a net income of $118 million this year, down nearly 59% from the previous year.
Pharmacy chain Walgreens expects to save $3.3 billion by the end of 2023 and another $800,000 in 2024.
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