Walgreens announced it would be closing 200 U.S. stores by the end of 2017, according to a press release.
In August, Walgreens announced a three-year $1.0 billion cost-cutting initiative that will identify additional opportunities primarily in the Retail Pharmacy U.S.A. division.
The additional opportunities will increase the total expected cost savings program by $500 million to a projected $1.5 billion.
Walgreens also plans to reorganize corporate and field operations, drive operating efficiencies and streamline information technology and other functions.
These actions are designed to restructure and invest in the company’s future in a way that is better for customers and simpler for employees, resulting in a faster and more agile company.