07:49 AM EDT, 09/24/2024 (MT Newswires) -- bluebird bio (BLUE) said Tuesday that it is launching a restructuring plan to reduce its workforce by 25%.

The company said the layoffs and other measures will bring it to quarterly cash flow break-even in H2 of next year and reduce cash operating expenses by 20% in Q3 of next year.

Chief Executive Andrew Obenshain said the restructuring will help the gene therapy company attract more investment.

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