Summary
Walgreens, a major U.S. pharmacy chain, is laying off over 600 workers in Texas and Illinois and plans to close dozens of stores by 2026. These actions follow Walgreens' acquisition by private equity firm Sycamore Partners in August 2025. The company is making these changes to address financial challenges and change in customer habits.
Key Facts
- Walgreens will lay off 159 workers in Houston, Texas, starting June 1, 2026.
- An additional 469 employees will be laid off in Illinois, making the total layoffs over 600.
- The layoffs are part of a larger plan to close unprofitable stores through 2026.
- Walgreens was acquired by Sycamore Partners in August 2025, which has led to cost-cutting measures.
- The company plans to close 1,200 stores over three years, including 500 in fiscal year 2025.
- Approximately 25% of Walgreens' remaining stores are reportedly not profitable.
- After the acquisition, the number of stores dropped from 8,500 to 8,000, and employees from 220,000 to 211,000.
- Walgreens aims to improve customer service and streamline its organization in response to financial pressures.
