Graphicscoco/iStock via Getty Images Cue Health ( NASDAQ: HLTH ), once a high-flying supplier of COVID-19 tests, has notified its staff members that the company is laying off its entire workforce and shutting down operations effective Friday, The San Diego Union-Tribune reported. Earlier this month, San Diego, California-based Cue ( HLTH ) cut about half of its staff, or 230 employees, as part of a portfolio shakeup. According to paperwork related to the Worker Adjustment and Retraining Notification Act (WARN) filed with the state of California, Cue ( HLTH ) is also accelerating the end date of those employees to Friday from July.
The latest layoffs will impact the remaining 250 employees, including the company’s leadership. Cue’s ( HLTH ) closure comes days after the FDA warned against using the company’s COVID-19 tests due to the risk of false results. Cue ( HLTH ), which made its trading debut in 2021, was a favorite on Wall Street during the pandemic, with contracts to supply COVID tests to major sporting events such as the 2021–22 NBA season.
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