TuSimple to Restructure US Business, Lay Off 30 Percent Staff

TuSimple truck-trailers are parked at their facility at AllianceTexas, a 27,000 acre business complex boasting some of the country’s largest freight operations, in Fort Worth, Texas, on May 18, 2022. Cooper Neill/Reuters

TuSimple Holdings Inc. said on Thursday it will cut 30 percent 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 percent in premarket trading.