CVS Health and Walmart are closing some of their pharmacies earlier than usual as the shortage of pharmacists forced them to do so. The companies confirmed that they would be cutting store hours due to the labor crunch.
According to CNN Business, starting in March, CVS Health and Walmart will either be cutting or shifting their pharmacy operation hours. The move is a response not only due to the staffing shortage but to the declining customer demand as well. The dwindling demand was attributed to fading COVID-19 pandemic.
Thousands of the pharmacies’ locations are affected by the reduced hours. Walmart will be closing most of its 4,600 stores in the United States at 7 p.m., which is two hours earlier, while CVS Health will cut the hours of its 6,000 pharmacies.
CVS said that the change in its operating hours would allow them to make sure that all patients are served. The company further explained that this decision is part of its “regular course of business to meet customer demand.
As for Walmart, its spokesperson said, “Walmart has a strong and incredible pharmacy team, and we are making this change to not only enhance their work-life balance but also to maintain the best level of service for our customers. By positioning our teams in the hours where our customers say they want to visit our pharmacy, we are better able to deliver excellent customer service.”
Walgreens pharmacy already cut its operating hours last year due to the same reason, but CVS Health and Walmart were only feeling the shortage this year. Meanwhile, Reuters reported that the U.S. is currently experiencing a labor shortage that started at the height of the COVID-19 pandemic. The crunch is not over yet, and the pharmacy industry is feeling the most effect at the moment.
Photo by Jack Cohen on Unsplash


South Korea Inflation Rises to 3.1% in August
Tesla Cybercab Launch Puts Robotaxi Ambitions in Focus
Microsoft to Reveal Azure Revenue in Major Reporting Shake-Up
JPMorgan Sees ECB Raising Rates to 2.75% in December
SpaceX Turbine Push Unlikely to Threaten Howmet, Bernstein Says
FTSE 100 Falls as US-Iran Conflict Drives Oil Prices Higher
Japan, US Target AI and Chips in $550 Billion Investment Push
Chinese AI Stocks Rally After OpenAI Launches GPT-6 Astra
Dollar Hits Two-Week High as Iran Conflict Lifts Oil and Bond Yields
Deutsche Telekom Shares Rise as Elliott Pushes Against T-Mobile Merger
Hong Kong Eyes Offshore Yuan Expansion, Deeper China Market Links
Tesla Cybercab Rides Launch in Austin as NHTSA Reviews Rollout
Adobe Names Anil Chakravarthy CEO as AI Push Accelerates
Australia Trade Surplus Beats Forecasts in July as Exports Fall
Treasury Yields Set to Stay High as Debt Supply Pressures Bond Market
Asian Currencies Rise as Yen Surges on BOJ Rate Hike Bets
Yen Extends Gains as BOJ Rate Hike Bets Rise 



