According to SFGate, the San Diego-based medical tech company announced Monday that it is laying off its entire staff. Similar industry reports indicate a complete shuttering of operations.
Today’s announcement follows a 230-worker cut in early May. A filing by the company stated the latest layoffs will be effective Friday, impacting Cue Health’s entire leadership team and every remaining U.S. employee. “Layoffs have steadily hit Cue’s workforce since January 2023, but the total wind-down is still a major blow, coming less than three years after Cue went public at a $2.3 billion valuation. After turning a profit in 2021, Cue lost $194.1 million in 2022 and $373.5 million in 2023, according to a WARN filing on Monday. “On May 24, 2024, the Company will be issuing final paychecks to all employees,” the filing, written by chief HR officer Allison Blackwell, said. Such filings are required in the event of mass layoffs.
The Agency explicitly stated, “Do not use any Cue Health COVID-19 Tests for Home and OTC Use that you may still have…Dispose of the entire test cartridge in the household trash.”
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