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CVS Plans to Hire 50,000 and Give Bonuses to Current Staff

CVS plans to hire 50,000 people and give bonuses to current staff. The move comes as the drugstore chain, an essential business in locked-down cities, attends to a tsunami of customers.

CVS Health  (CVS) - Get Report, the country’s biggest pharmacy chain, said Monday that it was hiring 50,000 full-time, part-time and temporary workers nationwide to cope with the onslaught of business brought on by the coronavirus.

Even in cities and states that are locked down, businesses that offer essential goods and services are allowed to stay open. Customers can purchase medicine and sundries at CVS and other pharmacies.

And other chains, including Walgreens Boots Alliance (WBA) - Get Report and Walmart  (WMT) - Get Report, have stepped up hiring as well.

Walgreen, Deerfield, Ill., said on Sunday that it would hire 9,500 people for part-time and temporary roles. It’s also paying bonuses of $300 for full-time workers and $150 for part-time hourly workers in stores and distribution centers.

As for CVS, Woonsocket, R.I., it’s looking for store associates, home-delivery drivers, distribution-center employees and member/customer service professionals, the company said in a statement.

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It will utilize technology in the hiring process, including job fairs, interviews and job tryouts, all done virtually.

“Many roles will be filled by existing CVS Health clients who have had to furlough workers, including Hilton  (HLT) - Get Report and Marriott  (MAR) - Get Report,” the statement said.

The company also said it was paying bonuses ranging from $150 to $500 to pharmacists and other healthcare professionals on the front lines, store associates and managers, and other site-based hourly employees.

"Our colleagues have demonstrated an extraordinary commitment to providing essential goods and services at a time when they're needed most," CVS Chief Executive Larry Merlo said in the company’s statement.

CVS currently employs some 300,000 people and Walgreen 230,000.

At last check, CVS shares stood at $54.07, down 1.2%.