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Boots owner WBA slashes 500 jobs

Boots UK

Walgreens Boots Alliance Inc (WBA), the parent company of Boots, has unveiled plans to cut its corporate workforce by 10% in a bid to streamline operations.

According to Reuters, store positions are not being affected, alongside the company’s fulfilment outlets and call centre roles.

Instead, the firm has been seeking to expand beyond its core business of pharmacies, with acquisitions of healthcare operator VillageMD and urgent-care provider Summit Health.

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The news comes as the health and beauty retailer reported pre-tax profits of £137 million in the year ended 31 August 2022 across its three entities.

According to accounts filed on Companies House, the figure was up from £44.5 million the year prior, with sales rising around 10% to £7.8 billion.

As a result of the company’s soaring figures, Boots boos Seb James pocketed a pay package of £3.8 million. This included his £1.9 million fixed pay as well as £1.8 million in long-term bonuses and £100,000 in pension payments.

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