Cue Health, a tech firm that specializes in at-home diagnostics, has let 170 staffers go as it adjusts to the changing economy and cutbacks in COVID-19 funding.
The publicly traded company had been focusing on COVID-19 tests, but federal funds for them have dried up as the pandemic wanes.
"Cue Health announced that it has made the difficult decision to reduce its manufacturing workforce by 170 people due to the economic challenges that are impacting many industries as well as the U.S. government’s recent decision to reduce funding for COVID-19 testing," a Cue Health spokesperson emailed Becker's.
"We remain confident in our long-term strategy as we continue to broaden the number of customers we serve and advance our menu of future care offerings, reinforcing our mission to improve how healthcare is delivered by making it more efficient and timely, ultimately leading to better outcomes for people’s health."
The move follows a slate of layoffs at health tech companies in recent weeks in the midst of a seesawing economy.