TuSimple, the once high-flying autonomous trucks company that went public in 2021, is restructuring and laying off about 30% of its global workforce as it works to preserve cash and stay in business. All of the layoffs will occur in TuSimple’s U.S. workforce. Prior to the layoff, TuSimple had about 550 employees in the U.S.…
TuSimple, the once high-flying autonomous trucks company that went public in 2021, is restructuring and laying off about 30% of its global workforce as it works to preserve cash and stay in business. All of the layoffs will occur in TuSimple’s U.S. workforce. Prior to the layoff, TuSimple had about 550 employees in the U.S.…
TuSimple, the once high-flying autonomous trucks company that went public in 2021, is restructuring and laying off about 30% of its U.S. workforce as it works to preserve cash and stay in business. The announcement early Thursday comes a week after the company disclosed that it received a delisting notice from the Nasdaq for failing to file…
North East energy consultancy Great Annual Savings has fallen into administration with the loss of more than 100 jobs after a restructuring plan was rejected at a High Court hearing. The former Sunderland AFC shirt sponsor, based in Seaham, County Durham, had put together a plan in a last ditch bid to counter a winding-up…
Aligning capital spend with overall market conditions and pace of industry readiness Reorganization of U.S. operations and a reduction in force to focus development efforts No longer seeking strategic alternatives for Asia Pacific business SAN DIEGO, May 18, 2023 /PRNewswire/ — TuSimple (Nasdaq: TSP), a global autonomous driving technology company, announced a restructuring plan for its…
May 18 (Reuters) – TuSimple Holdings Inc (TSP.O) said on Thursday it will cut 30% of its workforce in the United States under a restructuring as the autonomous driving technology company looks to preserve its balance sheet amid a funding crunch in the sector. The shares of the company fell more than 8% in premarket…
The recent sanction judgment gives important guidance on the way in which the court’s discretion should be exercised when sanctioning a restructuring plan and considers whether it is necessary for opposing parties to provide valuation evidence of their own . Key takeaways from the judgment No worse off test: expert evidence An opposing party is…
HONG KONG, May 18 (Reuters) – A shrinking land bank and sluggish property demand are likely to hamper the plans of a growing number of private Chinese developers who have defaulted on their debt and are restructuring it to win breathing room to revive their fortunes. Those hurdles could hinder the drastic improvements in sales…
Supplied Xeros loss was largely the result of restructuring costs and a write-down in the value of a business it bought in 2021. Small business accounting services company Xero has reported an after tax loss of $113.5 million despite a 28% increasing in its earnings. The net loss for the 12 months to the end…
Julian Challingsworth (Spirit managing director) Credit: Spirit Spirit Technology Solutions is redirecting its attention towards security, sustainability and scalability following the conclusion of its organisational restructuring. The three-pronged approach, launched this month, targets the three key high growth areas for the publicly listed company, according to a statement released to the Australian Securities Exchange (ASX).…