Wednesday, April 3, 2019

Cost cuts make managing Walgreens stores more challenging, less fun

Chicago Tribune
Walgreens reported what it called its most difficult quarter in years on Tuesday, saying it will aim to cut another $500 million in costs annually by 2022, hitting workers and managers who are already feeling the pinch and spurring a makeover in many of its stores.

The company said that operating income fell by more than 23 percent, to $1.5 billion. It attributed the bleak results partly to pressures related to reimbursements for medications.

The results spurred the company to announce more cost cutting.
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