MedTech Dive February 9, 2024
The company cut 94 workers at the beginning of last month and another 151 people on Jan. 25.
Dive Brief:
- Cue Health announced two rounds of layoffs in January as it grapples with lower sales of COVID-19 tests.
- One round of layoffs, announced Jan. 4, affected 94 employees, while another round announced Jan. 25 affected 151 employees — nearly a quarter of Cue’s workforce.
- The San Diego-based diagnostics company makes point of care tests with a custom cartridge reader. Most of Cue’s revenue comes from its COVID-19 tests, but a slowing demand has caused operational losses and raised concerns about the company’s ability to continue.
Dive Insight:
Cue, which was founded in 2010, grew quickly through agreements...
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Topics: Medical Devices