Brief: Cue Health Says On April 28 Announced That It Was Implementing A New Cost Reduction Plan

Cue Health

28/04/2023 21:23

April 28 (Reuters) - Cue Health Inc  HLTH.O :
    * CUE HEALTH INC - ON APRIL 28 ANNOUNCED THAT IT WAS
IMPLEMENTING
A NEW COST REDUCTION PLAN
    * CUE HEALTH INC - CRP WILL INCLUDE A REDUCTION IN EMPLOYEE
BASE
BY 326 EMPLOYEES, WHICH CONSTITUTES A REDUCTION OF ABUT 30% IN
GLOBAL WORKFORCE
    * CUE HEALTH INC - ESTIMATES WILL RECORD AGGREGATE
RESTRUCTURING
CHARGE RELATED TO ONE-TIME TERMINATION BENEFITS IN RANGE OF
ABOUT $5.0 MILLION TO $7.0 MILLION
    * CUE HEALTH INC - SUBSTANTIAL MAJORITY OF RESTRUCTURING
CHARGES
WILL RESULT IN CASH EXPENDITURES

Further company coverage:  HLTH.O 

 ((Reuters.Briefs@thomsonreuters.com;))