Walgreens cutting nearly 470 jobs in Illinois

Walgreens is laying off hundreds of employees across the country.

Nearly 470 jobs are being cut in Illinois, where the company is based. 

It's one of its biggest moves to cut costs since Walgreens was bought by private equity firm Sycamore Partners. 

Walgreens, based in Deerfield, Illinois, released the following statement: 

"We're focused on becoming America's best retail pharmacy, beginning with improving the in‑store experience for our customers and patients. To do this, we've made the difficult decision to simplify our organization in both the support center and with our field leadership to speed decision making and improve the service that millions of customers rely on every day. We have deep respect for our colleagues and greatly appreciate their contributions and are committed to supporting them throughout this transition." - Walgreens spokesperson