Walgreens Plans Downtown Chicago Workforce Consolidation Into Deerfield HQ

Walgreens, now privately owned by Sycamore Partners following a $23.7 billion acquisition, is consolidating its operations by closing its large downtown Chicago office at the Old Post Office building and relocating staff to its suburban headquarters in Deerfield. The company announced it will shutter the downtown workspace by the end of January 2026, retaining only the retail store within the historic building. CEO Mike Motz emphasized that this move aims to streamline operations and enhance collaboration as Walgreens focuses on improving customer and store team member experiences. The consolidation follows Walgreens' breakup into five standalone entities under private ownership, and comes amidst the company's broader strategic shifts, including plans to close 1,200 stores over three years. Walgreens had initially moved many digital and IT employees to the Old Post Office space in 2020, but now sees the Deerfield office as its primary hub. The transition underscores Walgreens' efforts to adapt to industry challenges such as thin prescription reimbursements and rising operating costs.