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Cue Health has reached the end of the road. The San Diego-based medical tech company announced Monday that it’s laying off its entire staff.
The company once had 1,500 workers, thriving during the COVID-19 pandemic with sales of its test devices to Google, the NBA and the Department of Defense. But with far less demand for the testing, Cue’s fortunes have changed, and for more than a year the company has been slashing its staff. It announced a 230-worker cut in early May, halving Cue’s staff. Now the company is laying off its entire leadership team and every remaining U.S. employee effective Friday, 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; this one said Cue told workers about the scale of the layoff on Monday.
It’s unclear what will happen to Cue’s assets and business after Friday, but the mass layoff indicates that the company will soon cease to exist. Neither Cue nor CEO Clint Sever immediately responded to SFGATE’s requests for comment. The layoffs were first reported by the San Diego Union-Tribune.
This business literally lived and died from Covid.
The company once had 1,500 workers, thriving during the COVID-19 pandemic with sales of its test devices to Google, the NBA and the Department of Defense. But with far less demand for the testing, Cue’s fortunes have changed, and for more than a year the company has been slashing its staff. It announced a 230-worker cut in early May, halving Cue’s staff. Now the company is laying off its entire leadership team and every remaining U.S. employee effective Friday, 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; this one said Cue told workers about the scale of the layoff on Monday.
It’s unclear what will happen to Cue’s assets and business after Friday, but the mass layoff indicates that the company will soon cease to exist. Neither Cue nor CEO Clint Sever immediately responded to SFGATE’s requests for comment. The layoffs were first reported by the San Diego Union-Tribune.
This business literally lived and died from Covid.
