Tags: walgreen

Walgreen to Cut 1,000 Management Jobs in 2009

Thursday, 08 Jan 2009 09:36 AM

NEW YORK - Drugstore operator Walgreen Co. says it will cut 1,000 jobs this year, or about 9 percent of corporate management, through a combination of voluntary buyouts and layoffs.

The Deerfield, Ill., company says the job cuts will come from corporate and field management and won't include store employees. The targeted workers will be able to resign or retire with severance pay and benefits based on their tenure.

Starting in February, the company will begin layoffs.

Walgreen did not estimate the cost of the job cuts.

The job reductions are part of Walgreen's cost-cutting plan, which is intended to save the company $1 billion per year starting in fiscal 2011.

Walgreen had 237,000 employees as of Aug. 31.

© 2017 Newsmax. All rights reserved.

 
1Like our page
2Share
Companies
NEW YORK - Drugstore operator Walgreen Co. says it will cut 1,000 jobs this year, or about 9 percent of corporate management, through a combination of voluntary buyouts and layoffs.The Deerfield, Ill., company says the job cuts will come from corporate and field management...
walgreen
119
2009-36-08
Thursday, 08 Jan 2009 09:36 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved