CVS hiring 50K people, paying bonuses

Marco Green
March 25, 2020

CVS Health Corp. will hire 50,000 workers across USA locations to aid in responding to the new coronavirus, as big pharmacy chains set up drive-through testing sites outside stores.

CVS is also paying bonuses to employees who are required to be at CVS facilities to assist patients and customers. Rite Aid Corp. on Monday plans to start testing at a Philadelphia site.

While companies like Amazon and CVS are hiring to meet an upswell in demand, many businesses have temporarily laid off workers due to a collapse in revenue. To maintain social distancing during the hiring effort, CVS will use a technology-enabled hiring process to hold virtual job fairs, virtual interviews, and virtual job tryouts. This benefit will begin in early April for both full- and part-time employees. The company also announced that they will be giving some of their employees a bonus of up to $500 during the COVID-19 pandemic.

The company is looking to hire part-time, full-time, and temporary workers across the U.S.to fill store associate, home delivery driver, distribution employee, and member/customer service professional jobs. Finally, Cfra upped their price target on CVS Health from $85.00 to $86.00 and gave the company a "strong-buy" rating in a research report on Wednesday, February 12th.

CEO Larry Merlo said in a statement that the move is a way for the company to help its employees have peace of mind in uncertain times. Many roles will be filled by existing CVS Health clients who have had to furlough workers, including Hilton and Marriott.

Along with backup care, employees have also been offered additional paid sick leave. The company is already providing 14 days of paid to employees who test positive for COVID-19 or who need to be quarantined.

"The health and wellbeing of our colleagues has always come first".

As the pandemic continues, CVS is prioritizing the distribution of protective gear to the hardest-hit areas, according to the news release. This includes access to the Employee Relief Fund, which provides short-term, immediate financial relief in the form of tax-exempt grants.

Other reports by Click Lancashire

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