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 its quarterly report on time. TuSimple hasnt filed a quarterly report for the fourth quarter or full-year results. It last reported earnings for the quarter ended September 30. It also said Thursday it will not be able to file first-quarter earnings in a timely manner.
Shares were up more than 14% following the disclosure.
TuSimple was supposed to be delisted May 15, but was able to get a temporary re…
Read the full article at: https://techcrunch.com/2023/05/18/tusimple-to-lay-off-30-of-u-s-workforce-keep-china-business/