Both full- and part-time employees will receive $250. The bonuses will be issued to employees throughout multiple departments including its pharmacy, administrative support and retail distributions, CVS confirmed to FOX Business.
In total, the company plans to spend approximately $60 million in bonuses.
"We are offering a bonus in recognition of the extraordinary effort of our employees this year given the challenges presented by COVID-19," a CVS spokesperson told FOX Business in an emailed statement.
The notice comes after the company announced it was looking to rapidly hire thousands of employees to help administer COVID-19 vaccines following Food and Drug Administration (FDA) approval. However, only those who started at CVS by Oct. 31 will be eligible for the extra funds.
To date, the company has roughly 300,000 employees around the nation. The approximately 100,000 employees who are not included in this bonus round will still receive an additional $250 through existing bonus programs, according to CVS. Those funds are usually doled out in March.
The latest funds build upon an earlier effort to show its appreciation for its workforce.
In March, the company awarding bonuses ranging from $150 to $500 to employees who were required to be at CVS facilities to assist patients and customers "in this time of unprecedented need."
This included pharmacists, store associates and managers, and other site-based hourly employees, CVS said earlier this year.