Walgreens to close 200 stores nationwide

April 9, 2015 5:26 PM

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Walgreens, the nation's largest drugstore chain, said Thursday it plans to close about 200 stores nationwide as part of a $1-billion cost-cutting plan announced in August.

The Deerfield, Ill.-based company said the cost-reduction plan will also include a corporate reorganization and streamlining information technology. The cutbacks will take place over three years and are expected to save $1.5 billion by the end of fiscal year 2017.

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