Cue Health, the San Diego biotech supplying COVID-19 test kits, ceased operations after FDA's warning. The company stopped selling its tests, prompting layoffs for remaining employees. The closure affected all workers as Cue accelerated its shutdown, leaving employees without jobs despite prior cost-cutting actions.
The Board of Directors at Cue Health announced the layoff of all remaining employees, effective immediately. The final paycheck for these employees will include compensation and benefits through July. The firm had already laid off half of its workforce earlier, and now the remaining workforce is being let go.
Cue Health faced financial difficulties post decrease in demand for COVID-19 tests. The closure was accelerated following the FDA's warning on the test kits. After initially laying off 230 workers, the remaining 250 employees also faced layoffs, effectively concluding the company's operations.
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