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CVS Health offering $250 bonus to nearly 200,000 employees

In total, CVS Health will spend about $60 million in bonuses. The move comes after the chain reported a $67.1 billion third-quarter revenue boost in November.

WASHINGTON — CVS Health is giving a bonus to nearly 200,000 employees who worked during the coronavirus pandemic.

The drugstore chain said about two-thirds of its employees will be given an extra $250 in January. In total, CVS Health plans to spend about $60 million in bonuses. The move comes after the company reported a $67.1 billion third-quarter revenue boost in November.

"The special bonuses are a recognition of the extraordinary efforts of our employees to support patients and communities facing the challenges presented by the COVID-19 pandemic this year," a CVS Health spokesperson said.

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Another 100,000 CVS employees are already in line for the same award as part of the company's regular bonus program, according to CBS News.

CVS Health and other pharmacies across the country have been on the front lines of the COVID-19 pandemic. More than 4,000 coronavirus test sites were opened by CVS since March, and it has administered more than 6 million COVID-19 tests, according to CVS Health President and CEO Larry Merlo in November.

This isn't the first bonus CVS Health announced this year. In March additional bonuses from $150 to $500 for pharmacists, cashiers and other front-line workers were given out. At the same time, CVS Health's competitor, Walgreens, also gave a bonus of $300 to full-time employees and $150 to part-time employees.

Credit: AP
FILE- In this Aug. 7, 2018, file photo a CVS Pharmacy building sign rests on a Jackson, Miss., store. CVS Health topped fourth-quarter earnings forecasts, but the nation’s second-largest drugstore chain also debuted a 2019 outlook that fell far short of Wall Street expectations. The company said Wednesday, Feb. 20, 2019, that it expects adjusted earnings to range between $6.68 and $6.88 this year. FactSet says analysts expect earnings of $7.35 per share. (AP Photo/Rogelio V. Solis, File)

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