Walgreens plans to close 200 U.S. stores

Walgreens plans to close about 200 U.S. stores as the nation's largest drugstore chain expands on a $1 billion cost-reduction plan it announced last August.

The closings would represent roughly 2 percent of the 8,232 drugstores the company operates in the U.S., Puerto Rico and the U.S. Virgin Islands, according to the Chicago Tribune.

The Deerfield, Ill.-based company also said Thursday it will reoganize corporate operations and streamline information technology and other functions. The moves are expected to save the company $500 million during the extent of the three-year plan.

Read more from the Chicago Tribune.