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. and post reduction in force the company will have about 220, according to the company.
“We believe this is the right number of employees to work toward achieving our goals while preserving the cash on our balance sheet as well as retain strong publicly listed company capabilities, according to an emailed statement from TuSimple.
The announcement early Thursday comes a week after the company disclosed that it receive…
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