Cue Health, a San Diego-based biotechnology company that experienced rapid growth during the pandemic by producing COVID-19 test kits, is laying off approximately 245 employees, representing about one-third of its global workforce. This latest round of cuts, reported in February 2024, follows several previous layoffs totaling 884 workers since June 2022, primarily affecting its San Diego operations. The company, which expanded from 99 employees in early 2020 to over 1,500 by the end of 2022, is reducing staff due to a sharp decline in demand and funding for COVID-19 testing. Cue Health aims to cut costs and improve operational efficiency as it shifts focus to expanding its test menu on its health monitoring system, with the layoffs expected to incur $5 million to $7 million in one-time expenses.

30%

1/5/2024US

affected

Cue Health laid off 94 employees representing approximately 13% of its workforce on 2024-01-05.

13%

4/28/2023US

326

affected

Cue Health laid off 326 employees representing approximately 30% of its workforce on 2023-04-28.

30%