TuSimple Holdings Inc. [s:tsp], a company developing autonomous-truck technology, said Wednesday it would lay off 25% of its total workforce, or around 350 employees, and pull back on some trucking and freight operations, citing"macroeconomic conditions." Most of the cuts will take place in TuSimple's U.S. business, the company said, adding that it"continues its plan to explore strategic alternatives for its Asia business, including a divestiture.
[s:tsp], a company developing autonomous-truck technology, said Wednesday it would lay off 25% of its total workforce, or around 350 employees, and pull back on some trucking and freight operations, citing"macroeconomic conditions." Most of the cuts will take place in TuSimple's U.S. business, the company said, adding that it"continues its plan to explore strategic alternatives for its Asia business, including a divestiture.