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CVS Stocks Fall After KC Walkouts; Pharmacists Plan Second Walkout

CVS pharmacists plan a second week of walkouts in the Kansas City metro. Photo Credit: Google Maps

Posted September 28, 2023

CVS shares dropped by 2.2 percent following the drugstore chain’s pharmacists’ threatening to walk out for a second week due to poor working conditions at Kansas City area locations.

The walkouts first took place last week at 22 Kansas City locations. Pharmacists claimed the working conditions left them overworked and affected their ability to treat patients properly.

It seems as though the walkout won’t stop any time soon.

Less than a week after the initial walkout, CVS pharmacists will continue their walkouts Thursday. More locations nationwide could join with their fellow pharmacists in their effort to for better working conditions. The drugstore chain currently operates more than 9,000 locations nationwide.

CVS executive director of corporate communications Michael DeAngelis said an industry-wide shortage of pharmacists has made it difficult to appropriately staff the chain’s more than 9,000 pharmacies throughout the nation, USA Today reported Thursday.

In a memo to staff, CVS’ chief pharmacy officer and president of pharmacy and consumer wellness Prem Shah apologized to staff.

“With the currently unprecedented demand for vaccinations from our patients in mind, we are taking a series of actions effective immediately,” Shah said in the memo.