Underperformance | Walgreens will offer "vast majority" of employees jobs elsewhere amid significant store closures

Walgreens has announced it will close a large number of stores due to poor financial performance.

The pharmaceutical chain currently has around 8,600 US locations and didn’t specify exactly how many stores will be affected.

CEO Tim Wentworth told analysts in a call on Thursday that changes are “imminent” for roughly 25% of its stores which are unprofitable, according to CNN.

Wentworth added the optimization program will “include the closure of a significant portion of these underperforming stores.”