bluebird lets go staff amid financial struggle

25 September 2024

Rare disease firm bluebird bio (Nasdaq: BLUE) has announced a company-wide restructuring aimed at cutting costs by 20% and achieving quarterly cash flow break-even by the second half of 2025.

The restructuring plan includes reducing the workforce by about a quarter, as well as optimizing operations, streamlining costs and focusing on core business objectives.

bluebird said it was also looking into extending its cash runway by raising more money.

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