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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