Walgreens Cuts Hundreds of Jobs After Private Equity Buyout (1)

Walgreens is laying off hundreds of employees across the country as the beleaguered pharmacy chain’s new private equity owners look to cut costs.

The company said it is eliminating 469 jobs in Illinois, where it is headquartered, and plans to cut another 159 positions in Texas, where it is closing a distribution center, according to letters it sent to the states earlier this month.

“We’ve made the difficult decision to simplify our organization,” Walgreens said in a statement, explaining the changes are intended to help it make decisions more quickly and improve customer service.

The pharmacy chain was purchased ...