Drug store and pharmacy chain Walgreens has confirmed that it's expecting to close around 150 stores in the United States. 

According to a statement from Director of Global Corporate Communications for Walgreens Boot Alliance, Scott Goldberg, across the chain's footprint of nearly 9,000 stores, the company expects to close 150 stores by August 31, 2024.

According to a report from CNN, Walgreens reported lower earnings this year compared to the same quarter in 2022. This quarter's earnings were reported to be $118 million or 14 cents a share, compared to last year's $289 million or 33 cents a share.

CNN reports this drop is largely due to the company facing muted consumer spending and a drop in demand for COVID-19 vaccinations. These closures are part of an an increased cost saving effort.

Additionally, CNN reports that Walgreens Boot Alliance Chief Financial Officer, James Kehoe says the company has eliminated more than 500 roles, around 10% of its corporate and U.S. office support workforce.

At this point, Walgreens has not revealed to 21 News whether or not any locations in the Mahoning or Shenango Valleys will be affected by these expected closures.