10 May 2020
Posted in Medical Devices
Despite being an active leader in COVID-19 testing, LabCorp’s Job postings have decreased
According to GlobalData Jobs Analytics Tool, the number of LabCorp active job postings decreased by 28.9% between February and March 2020. Additionally, LabCorp recently revealed that it will lay off temporary staff and defer hiring.
Azadeh Laffafian, PhD, medical devices analyst at GlobalData, comments: “While the US healthcare diagnostics company’s regular business has been impacted negatively by the pandemic, its COVID-19 testing capabilities have continued to grow.”
According to LabCorp, the company can perform 55,000 to 65,000 COVID-19 tests per day, depending on the availability of supplies. LabCorp’s at home self-collection COVID-19 test kit drew attention in the media recently. The test kit received an emergency use authorization by the FDA. It is expected to help reduce viral transmission and the use of personal protective equipment as the user can collect the sample independently.
Currently, the test is available for healthcare workers, and first responders, but LabCorp is aiming to make the test available for the general public in the future. LabCorp has also recently announced the expansion of its serological tests, which check for the presence of antibodies against COVID-19 to identify people who have been previously exposed to the virus.
Laffafian continues: “Reduction in hiring and cost-cutting measures by LabCorp in addition to their COVID-19 testing revenues may help the company offset some of the losses due to the impact of COVID-19 on its regular business.”