Walmart asks pharmacists to take voluntarily wage cuts, Reuters says

Walmart (WMT) is looking for voluntary wage reductions from some of its 16,000 pharmacists across the U.S, in a cost reduction initiative, according to Reuters’ Siddharth Cavale, citing a person familiar with the matter. “The cuts, which haven’t been previously reported and are aimed at pharmacists in higher wage brackets, highlight the new pressures at Walmart pharmacies, where shoppers are lining up to buy top-selling weight-loss drugs that are high priced but a drag on profits,” noted the story. Other companies in the space include CVS Health (CVS) and Walgreens Boots Alliance (WBA).