COMPETITIVE WATCH: Walgreen to Cut 1,000 Non-store Jobs

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COMPETITIVE WATCH: Walgreen to Cut 1,000 Non-store Jobs

01/09/2009
CHICAGO -- Walgreen Co., the drug store giant based here, plans to cut about 1,000 non-store jobs in an effort to reduce costs and improve its operations.

Reuters said the retailer is offering early retirement and severance programs to employees in corporate and field management jobs. About 1,000 positions, or approximately 9 percent of the jobs in those areas, will be cut through voluntary and involuntary programs during fiscal 2009.

These staff reductions are part of the retailer's "Rewiring for Growth" program, announced last fall. Under the program, Walgreen aims to save $1 billion per year by fiscal 2011.