Cue Health, a leading at-home test maker known for its molecular Covid-19 tests, has unexpectedly shut down operations and laid off all of its employees as of May 24. The company had been struggling financially for some time and was further impacted by the FDA’s recent warning regarding the use of its Covid-19 test kit.
Initially, Cue had informed 49% of its workforce on May 1 that they would be laid off by July 1. However, in a recent notice filed with California state regulators, the company stated that all U.S. employees who had not yet received notice of termination would also be laid off due to the evolving situation. All employees will receive their last paychecks on May 24.
This sudden move marks a significant shift from Cue’s previous plans and has left many in the industry in shock. The company’s closure has raised questions about the future of at-home testing and the impact of the pandemic on such businesses. Despite its previous successes, Cue’s decision to shut down has left many wondering about the long-term effects of the pandemic and the challenges faced by companies in the healthcare sector.
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