NEW YORK - January 8, 2009 - The Deerfield, Ill., company says the job cuts will come from
corporate and field management and won't include store employees.
The targeted workers will be able to resign or retire with
severance pay and benefits based on their tenure.
Starting in February, the company will begin layoffs.
Walgreen did not estimate the cost of the job cuts.
The job reductions are part of Walgreen's cost-cutting plan,
which is intended to save the company $1 billion per year starting
in fiscal 2011.
Walgreen had 237,000 employees as of Aug. 31.
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