Dexcom is laying off 350 employees, a 3% reduction in its global workforce, with 196 positions based in San Diego and most affected in operations and manufacturing. The layoffs follow a move to centralize manufacturing in Arizona and a prior reduction of 536 San Diego positions. Dexcom develops continuous glucose monitors that remove the need for fingerstick tests and alert patients when blood sugar shifts dangerously. Product focus expanded from Type 1 to include Type 2 diabetes, and services aim to support pre-diabetes and wellness monitoring. A new 15-day wearable monitor is due in the coming months, amid two recalls and a roughly 2% share decline.
Founded in 1999, Dexcom has become a leading developer of the continuous glucose monitor. For people with diabetes, wearing a glucose monitor eliminates the need for fingerstick tests and allows their blood sugar levels to be tracked around the clock. When a patient's blood sugar shifts dangerously, Dexcom will alert them. Initially, the company's products primarily served people with Type 1 diabetes, an autoimmune disease that typically develops in adolescence. Over time, its research expanded to include those with Type 2 diabetes as well.
The company also aims to expand its services to support customers with pre-diabetes and those who wish to monitor their glucose levels for wellness purposes. Most recently, it announced a new monitor that will be wearable for up to 15 days. Previously, the monitor was wearable for 10 days at most. The new version is scheduled for release in the next few months. This year, Dexcom also faced two recalls amid problems with the alerts on some of its glucose monitors.
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