Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Walgreens Cutting 500 Corporate Jobs

Walgreens Boots Alliance Inc. said it will cut 504 employees from its corporate workforce as the drugstore chain moves more deeply into patient care, Bloomberg News reported Friday. Most of the layoffs will be from its Chicago office and headquarters in Deerfield, IL. 

The cuts account for 10% of the corporate workforce, and none will be based at stores, microfulfillment centers or call centers, according to a Walgreens spokesman. “As we continue to transform our business into a consumer-centric healthcare company, we are focused on aligning our structure and streamlining our operations to best serve our patients and customers,” the spokesman told Bloomberg. 

The company posted a significant first-quarter loss as it pays out $6.5 billion in settlements related to the nationwide opioid crisis. Although the real estate impact of the layoffs isn’t immediately clear, another Walgreens spokesperson told Bloomberg the company is committed to maintaining offices in Chicago and Deerfield. 

Meet industry experts at the upcoming Connect Midwest: Multifamily and Adaptive Reuse Trends, which takes place June 13, 2023 at the W Chicago City Center Hotel. Click here for more information and to register. 


Inside The Story

Walgreens Boots Alliance

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Step 1: Select Education
  • ◦People