According to the Wall Street Journal, the company plans to ramp up spending focused on recruiting more workers.
Staffing is in short supply at pharmacies nationwide, and with competition between hospitals, retail chains and independent pharmacies becoming so fierce, Walgreens is offering huge signing bonuses to compete.
Bonuses for pharmacists are being offered up to $75,000, but the more common rewards are $30,000 or $50,000. Technicians are also being offered sign-on bonuses of about $1,250.
Pharmacists who get the bonuses are required to stay in the position for at least a year or more. Technicians are also required to stay for 12 months but will receive half their bonus after three months of employment.
The Wall Street Journal said at least 3,000 stores have reduced pharmacy hours due to the lack of pharmacists, which also caused a loss in revenue on prescriptions.
Meanwhile, CVS is still offering new hire bonuses. Most openings advertise a sign-on bonus of $30,000 for pharmacists. Technicians can also earn bonuses of more than $1,000.