TuSimple Holdings said the layoffs will reduce its headcount by 25 percent and are concentrated in the U.S. But is is unclear how many San Diegans are being let go.
Self-driving semi-truck outfit TuSimple Holdings said Wednesday that it would cut 350 jobs, mostly in the U.S., as the San Diego company restructures to conserve capital amid a series of recent corporate shake-ups.
As of Wednesday evening, TuSimple had not filed Worker Adjustment and Retraining Notification Act paperwork with the state of California or local employment officials. The job cuts were expected. The Wall Street Journal reported Friday that TuSimple was eyeing the termination of at least 700 workers.
In a post on LinkedIn, Hou denied any wrongdoing and strongly disagreed with the board’s decision to remove him. At the time, the Wall Street Journal reported that the Federal Bureau of Investigation, and the U.S. Securities and Exchange Commission were looking into the matter. The company formed a new leadership and brought back Cheng Lu, who had previously run the company, as CEO and president. It appointed a new board, including independent directors, and hired a permanent chief financial officer.
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