Walgreens Cuts More Than 600 Jobs in Illinois, Texas
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Walgreens cuts more than 600 jobs in Illinois, Texas. New owner Sycamore Partners pushes turnaround amid falling drug reimbursement rates. Bloomberg News The company said it is eliminating 469 jobs in Illinois, where it is headquartered, and plans to cut another 159 positions in Texas, where it is closing a distribution center. (Walgreens) February 19, 2026 4:00 PM, EST Walgreens is laying off hundreds of employees across the country as the beleaguered pharmacy chain's new private equity owners look to cut costs. The company said it is eliminating 469 jobs in Illinois, where it is headquartered, and plans to cut another 159 positions in Texas, where it is closing a distribution center, according to letters it sent to the states earlier this month. "We've made the difficult decision to simplify our organization," Walgreens said in a statement, explaining the changes are intended to help it make decisions more quickly and improve customer service. The pharmacy chain was purchased last year by the private equity outfit Sycamore Partners after years of plummeting profitability. Increased competition in the front of the store from online retailers and discount chains, coupled with falling payments from insurance companies for prescription drugs, crimped Walgreens' revenue. Sycamore has set about trimming costs by cutting staff and taking away paid holidays for some...
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