Cue Health, a leading at-home test kit company, has announced its sudden decision to lay off all of its employees and shut down operations as of May 24th. The company’s financial struggles have been ongoing for several months, culminating in insolvency. This closure comes shortly after the FDA advised consumers against using Cue’s only FDA-authorized product, a Covid-19 test kit.
Cue Health had initially informed 49% of its employees on May 1st that they would be laid off by July 1st. However, due to the rapidly changing situation, the company’s chief human resources officer announced in a notice filed on May 20th that all U.S. employees who had not yet received a termination notice would be receiving one. All employees are set to receive their final paychecks on May 24th.
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