Walgreens is planning to close 200 stores across the country in an effort to cut costs. The move comes just a few months after parent company Walgreens Boots Alliance announced it would be shuttering 200 stores in the United Kingdom.
“As previously announced, we are undertaking a transformational cost management program to accelerate the ongoing transformation of our business, enable investments in key areas and to become a more efficient enterprise,” the company said in a statement.
The company says they expect to save $1.5 billion in annual expenses by 2022.
The 200 stores represent just three percent of Walgreens' 9,560 locations in the United States. The company does not expect the closures to cause significant disruptions for customers because they have multiple locations in most cities.
Walgreens says they hope to retain a majority of the employees and will work to transfer them to nearby locations.
Walgreens did not release a list of the locations that will be closing.
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