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Walgreens, CVS cut paid sick leave for workers in line with CDC guidance

01/11/2022 | 09:36pm EDT
FILE PHOTO: People walk by a Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City

(Reuters) - Walgreens Boots Alliance and CVS Health Corp have cut paid sick leave for workers who test positive for COVID-19, aligning their policies to a change in U.S. health guidance, the companies said on Tuesday.

The U.S. Centers for Disease Control and Prevention updated its recommendations that people should isolate for five days after a COVID-19 infection, instead of 10.

A spokesperson for CVS said that the company is providing five days of paid leave for eligible full- and part-time workers, except where state or city paid leave laws provide for more. 

The company also added that paid leave is available only to employees who are vaccinated, approved for a reasonable accommodation, or otherwise covered by local laws.

Walgreens said that it is providing COVID-19 paid leave benefits for five days to workers and after Feb. 23 will continue to provide the same benefit for five days to those who are fully vaccinated and test positive for COVID-19.

Both the companies offered up to two weeks of paid leave earlier.

The company added that unvaccinated workers, who have an approved medical or religious exemption, also will continue to be eligible for the paid leave benefit.

Last week, Walmart said workers in the United States will receive one week of paid leave instead of two, if in need of isolation or have tested positive for COVID-19.

Amazon said that the workers infected with the virus can receive up to 40 hours paid leave given the shorter period of isolation.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh Kuber)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 3.66% 2302.93 Delayed Quote.-30.93%
CVS HEALTH CORPORATION 0.26% 98.05 Delayed Quote.-4.95%
WALGREENS BOOTS ALLIANCE, INC. 1.56% 43.71 Delayed Quote.-16.20%
WALMART INC. 1.97% 128.48 Delayed Quote.-12.92%
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Financials (USD)
Sales 2022 526 B - -
Net income 2022 8 217 M - -
Net cash 2022 42 943 M - -
P/E ratio 2022 145x
Yield 2022 -
Capitalization 1 172 B 1 172 B -
EV / Sales 2022 2,15x
EV / Sales 2023 1,79x
Nbr of Employees 1 608 000
Free-Float 86,1%
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Average target price 3 624,68 $
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Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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