Health tech company Cue Health to lay off 30% of staff

Cue Health, a health tech company that offers at-home diagnostics and telehealth, plans to lay off 30 percent of its workforce, or 326 employees, according to a securities filing.

"As you are well aware, we have been navigating a difficult macroeconomic environment that continues to pose unique challenges for our sector," CEO Ayub Khattak wrote in an April 28 email to employees. "In addition, the test menu expansion efforts and new product launches that so many of you are working on have been progressing well but are still early in terms of revenue generation."

The company previously let go of 388 staffers in January and 170 in June to readjust for reduced federal funding for COVID-19 testing. The current round of job cuts is expected to occur in late June.

"As a result of an ongoing evaluation by the Cue Health leadership team on how to best position the company for the future, the difficult decision was made to further reduce our workforce," a company spokesperson told Becker's. "We have recently reached a number of key pipeline milestones and we remain confident in our ability to work as a leaner team to achieve our long-term goal of improving healthcare delivery."

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