TuSimple Slashes Workforce 25% in Sweeping Restructuring

What’s new: Nasdaq-traded self-driving truck startup TuSimple Holdings Inc. plans to slash its workforce by 25% as part of a broader business restructuring, the company said.

TuSimple said the plan would affect 350 workers as the company seeks to elevate its capital efficiency. After the layoffs, TuSimple’s workforce will decline to about 1,100, 80% of whom will focus on research and development.