Walgreens Announces $1 Billion Cost-Cutting Plan Amid Falling Profits and Growing Challenges
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Walgreens announced it would slash costs by at least $1 billion as it struggles with recent challenges.
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The company missed quarterly profit estimates and lowered its full-year guidance.
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Walgreens has faced issues like declining demand for COVID vaccines and tests.
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The pharmacy chain expanded healthcare offerings and saw its CEO resign.
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Shares surged after the cost-cutting program was announced on Thursday.