Walgreen, Nissan Plan Job Cuts

The list of companies scaling back their workforces grew again Thursday, as another group announced job cuts.

Drugstore operator Walgreen (WAG Quote) says that starting in February, it will cut 1,000 jobs, or about 9% of corporate management, through a combination of voluntary buyouts and layoffs.

The Deerfield, Ill., company says the job cuts will come from corporate and field management and won't include store employees. The targeted workers will be able to resign or retire with severance pay and benefits based on their tenure. The reductions are intended to save the company $1 billion a year starting in fiscal 2011. ...