Walgreens loses two executives as cost-cutting measures continue

Change continues to be the main theme at Walgreens.

The company’s Chief Medical Officer Kevin Ban announced he will be leaving the Deerfield, Ill.-based company on Nov. 10, reports Bloomberg News. Chief Clinical Officer Sashi Moodley will replace Ban. Luke Sauter, who is the chief of staff to the CEO, will also step down.

The moves come just a day after Walgreens Boots Alliance announced it was cutting 5% of its corporate workforce, totaling 267 positions.

Last week, the retailer announced via a memo it was eliminating bonuses for corporate staff due to weaker-than-expected financial results.

During its fourth quarter financial earnings call, Walgreens said it was looking to cut costs by $1 billion.

“We must support our customer-facing activities, scrutinize every penny of spend that does not directly benefit the customer and improve cash management,” interim CEO Ginger Graham said during the Q4 earnings call.

Then there are the labor issues on the front line, as pharmacists executed scattered walkouts over the last few weeks to protest poor working conditions.

Both Walgreens and CVS pharmacy workers took the first steps towards unionizing. The organizing group is calling themselves the “Pharmacy Guild.”

IAM Healthcare, a union of health care professionals, is leading the charge, alongside online pharmacist communities.

Related:Walgreens reaches $192.5M settlement with Rite Aid investors

Understaffing is one of the top complaints, with pharmacists citing an increased pressure for vaccinations.