Brief: Cue Health Inc - On January 5, 2023, Co Announced That It Was Implementing A New Cost Reduction Plan

Cue Health

05/01/2023 21:52

Jan 5 (Reuters) - Cue Health Inc  HLTH.O :
    * CUE HEALTH INC - ON JANUARY 5, 2023, CO ANNOUNCED THAT IT
WAS
IMPLEMENTING A NEW COST REDUCTION PLAN
    * CUE HEALTH INC -  PLAN WILL INCLUDE A REDUCTION IN CO'S
EMPLOYEE
BASE BY 388 EMPLOYEES, A REDUCTION OF APPROXIMATELY 26% IN THE
CO'S GLOBAL WORKFORCE
    * CUE HEALTH INC -  ESTIMATES WILL RECORD RESTRUCTURING
CHARGE
RELATED TO ONE-TIME TERMINATION BENEFITS IN THE RANGE OF ABOUT
$6.0 MILLION TO $8.0 MILLION
    * CUE HEALTH INC -   EXPECTS PAYMENTS RELATING TO THE CRP TO
BE
COMPLETED BY THE END OF THE SECOND QUARTER OF 2023

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