In a surprising move that ripples across the retail and pharmacist sectors, Walmart is taking pay cuts by reducing working hours for some of its 16,000 pharmacists.
Their decision marks a significant shift in its approach to pharmacy services, potentially impacting shoppers who are lined up to buy weight-loss drugs that drag on profits. The cuts have also sparked significant debate and concern among employees and customers.
In this article, we’ll explore the reasons behind the decision and its potential impact on pharmacists.
What are Pharmacist’s Pay and Hours at Walmart
Walmart pharmacists work full-time or part-time, with shifts typically ranging from 30 to 40 hours per week. A pharmacist clerk earns around $15.45 per hour, while a pharmacist makes around $67.29 per hour.
Hourly wages can vary depending on several factors, such as experience and certifications. Full-time pharmacists often receive benefits such as health insurance and retirement plans, while part-time pharmacists may have access to some of these benefits on a prorated basis.
Walmart may offer incentives or bonuses for pharmacists who work in high-demand areas or meet performance targets.
What is the Complete Story of Pharmacists’ Pay Cuts?
During a meeting, senior Walmart field leadership asked 20 market leaders to start asking pharmacists to reduce their base salary hours voluntarily. They want pharmacists to go from an 80-hour, two-week pay period to one lasting 64 to 72 hours.
Market leaders from different areas attended the meeting, including Arkansas, Missouri, Alabama, Tennessee, Florida, Louisiana, and Georgia. Walmart also asked these leaders to start hiring pharmacists at lower base salaries.
Instead of reducing the number of working hours, the retail company offered some pharmacists, citing a dropoff in demand for drugs in requests from pharmacists to create a better work-life balance.
Marilee McInnis, a Walmart spokesperson, said the company is committed to creating a great place to work through competitive pay and work-life balance. They are hiring pharmacists as the demand for their services grows.
Why Does Walmart Cut Pharmacists’ Pay and Hours?
The company’s only reason for making this move is a shortage of pharmacy technicians. Technicians are responsible for handling tasks such as counting pills, answering phone calls, and enabling pharmacists to focus on filling prescriptions.
However, technicians are paid less than pharmacists because they don’t hold a pharmacy degree. This leads to a shortage of these professionals.
According to a report, nearly 80% of respondents working at the company considered the shortage of technicians. At the same time, the workload has increased due to the growing popularity of diabetes medications.
Walmart is asking some of its 16,000 pharmacists across the US to voluntarily take pay cuts by reducing their working hours in a bid to lower costs, a person familiar with the matter told @Reuters https://t.co/ezhvmjmxpJ pic.twitter.com/tLaFYE0oms
— Reuters (@Reuters) August 30, 2023
How Does Reduction in Pay and Hours Impact Pharmacists?
The reduction in pay and hours has significant implications for Walmart pharmacists
- A reduction in hours and pay directly affects pharmacists’ income, which can lead to financial strain.
- Reduced pay and hours can lead to decreased job satisfaction and morale among pharmacists. Feeling undervalued can affect their performance and interaction with customers.
- Some pharmacists may seek employment opportunities elsewhere, either within different pharmacy chains or in other sectors of the healthcare industry, which could lead to a talent drain for Walmart.
Wrapping Up
Walmart’s decision to reduce pharmacists’ pay and hours underscores the company’s complex challenges. While the move aims to reduce costs and optimize operations, it carries significant implications for pharmacists, customers, and the broader healthcare industry.
However, it will be essential to monitor its impact on access to healthcare, ensuring that cost-cutting measures do not compromise the vital services that pharmacists provide.
