Somerville gene therapy company cutting nearly 100 jobs

By Hannah Green • Published September 24, 2024 • Updated on September 26, 2024 at 2:43 pm

Another restructuring is underway at bluebird bio Inc., this time with plans to lay off about 25% of the Somerville company’s workforce.

Bluebird said Tuesday that the latest cuts are part of its plan to achieve quarterly cash flow break-even in the second half of 2025. Bluebird noted that the restructuring is expected to result in a 20% reduction in cash operating expenses when fully realized in Q3 2025, compared to the prior reporting period.

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