MAY 24, 2024 — CUE IS GONE
The company has ceased operation and laid off all employees, including executives. Approximately 250 employees are impacted.
According to chief human resource officer, Allison Blackwell, “Due to the fluid nature of this situation and based on the information available at this time, the Board of Directors of Cue Health has determined that the affected employees’ employment will conclude effective May 24, 2024. Similarly, the Company is concurrently informing all remaining US employees that their jobs are affected, and, as such, every remaining U.S. employee who has not yet received a WARN Notice, including Company leadership, is receiving a WARN notification today.”
MAY 3, 2024 — 49% OF WORKFORCE GONE
As COVID-19 tests continue to decline, the company is eliminating 49% of its workforce.
According to a company spokesperson, “The changes are intended to refocus Cue’s business on its Cue Health Monitoring System, including developing and deploying point-of-care tests. In alignment with this strategy, Cue has significantly reduced, or removed altogether, functions that don’t directly support this strategy.”
From the company’s SEC filing…
On May 1, 2024, Cue Health implemented a new cost reduction plan. Management, with the oversight and guidance of the Company’s board of directors, determined to implement the CRP following a review of the Company’s business and operating expenses. The CRP is aligned with narrowing the Company’s focus on its core technology offering and is intended to reduce the Company’s cost structure and improve its operational efficiency beyond the expected cost savings of the cost reduction plans announced previously.
The CRP will include a reduction in the Company’s employee base by 230 employees, which constitutes a reduction of approximately 49% in the Company’s global workforce.
FEBRUARY 3, 2024 — ONE-THIRD OF THE COMPANY WORKFORCE TARGETED
The company has announced a major reduction in its global workforce, which will impact 245 employees. This includes 209 U.S. employees, with 173 based in San Diego, California.
According to a company spokesperson, “In order to best align our resources with our strategic priorities as part of our go-forward plan, the difficult decision has been made to further reduce our global workforce. We are grateful for the many contributions of our departing colleagues and are supporting them during this transition. We remain focused on expanding our test menu on the Cue Health Monitoring System and are confident that our cost reduction plan will improve our operational efficiency and set us up for long-term success.”
JANUARY 7, 2024 — 94 EMPLOYEES
According to an SEC filing, Cue Health implemented a new cost-reduction plan, laying off 94 people, or approximately 13 percent of its workforce.
“The CRP is intended to reduce the Company’s cost structure and improve its operational efficiency. The CRP will include a reduction in the Company’s employee base by 94 employees, which constitutes a reduction of approximately 13% in the Company’s global workforce.”
MAY 24, 2023 — COST REDUCTIONS LAYOFFS CONTINUE
In an SEC filing, the company announced it is implementing a new cost reduction plan that will impact 326 employees.
According to Cue Chairman and CEO Ayub Khattak…
“I am sorry to share that in order to preserve Cue’s opportunity to succeed, I have made the difficult decision to further reduce Cue’s workforce by approximately 30%. This reduction will impact many departments at Cue and all employees who are affected will be notified shortly following this email. I want to express my gratitude to every colleague who is leaving Cue and wish them success in their future endeavors. Their contributions to building the Cue platform have helped lay the foundation to deliver on our mission to empower people to live their healthiest lives.”
JANUARY 7, 2023 — 26% REDUCTION IN FORCE, 388 LAYOFFS
According to an SEC filing…
Cue Health announced that it was implementing a new cost-reduction plan. Management, with the oversight and guidance of the Company’s board of directors, determined to implement the CRP following a review of the Company’s business, operating expenses, and the macroeconomic environment. The CRP is intended to reduce the Company’s cost structure and improve its operational efficiency.
The CRP will include a reduction in the Company’s employee base by 388 employees, which constitutes a reduction of approximately 26% in the Company’s global workforce. Layoffs are expected to occur in early March 2023, reflecting the 60-day notice period required under any applicable Worker Adjustment and Retraining Notification Act.
AUGUST 11, 2022 — 170 LAYOFFS IN CALIFORNIA
The company has announced an 11 percent reduction in force following explosive growth and now a significant reduction in demand for the company’s 20-minute COVID-19 test that delivers results directly to the user’s phone.
The reduction will impact 170 manufacturing employees, with the majority of workers located at its Vista, California location and the remainder at its two facilities in Sorrento Valley, California.
JULY 13, 2022 — Original post…
San Diego, California-based Cue Health, a healthcare technology company that develops and markets at-home medical diagnostic tests, has announced a reduction in force.
The reductions will impact 170 company employees, mainly in manufacturing.
According to a company spokesperson, "The layoffs of its manufacturing employees are due to the economic challenges impacting many industries and the lack of funding for COVID-19 testing from the US government."
"We remain confident in our long-term strategy as we continue to broaden the number of customers we serve and advance our menu of future care offerings, reinforcing our mission to improve how healthcare is delivered by making it more efficient and timely, ultimately leading to better outcomes for people’s health.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
