More Layoffs Are Coming: THIS Trucking Company To Cut Half Of Its Workforce Next Week

People familiar with the matter said cited that the cuts could go deeper and a staff reduction of that size would likely affect at least 700 employees.

Layoffs 2022: A US-based autonomous trucking company, TuSimple, is reportedly planning to cut potentially at least half of its workforce next week. People familiar with the matter said cited that the cuts could go deeper and a staff reduction of that size would likely affect at least 700 employees.

According to The Wall Street Journal, people said that the company plans to lay off its employees as it scales back efforts to build and test autonomous truck-driving systems. As of June, TuSimple had 1,430 full-time employees globally.

TuSimple President and Chief Executive Cheng Lu had said that he intended “to right the ship, and this includes ensuring the company is capital efficient”, according to the report.

Talks of layoffs at TuSimple have been ongoing for weeks, particularly following the end of TuSimple’s deal with Navistar to co-develop purpose-built autonomous semi trucks. TuSimple has rescinded offers it gave to interns to join the company, and posts on LinkedIn and Blind have mentioned “huge layoffs.”

Earlier this month, Lu sent an email to staff that said management was reviewing “our people expenses, the biggest part of our cash burn”.

He advised employees to “concentrate on the task at hand”, said the report.

Last week, Israeli mobile games company Playtika laid off 15 per cent of its workforce, or about 615 employees, across Europe, Israel and the US.

Last month, Carvana, a US-based online used car retailer, laid off about 1,500 employees, or 8 per cent of its workforce, as it attempts to cut costs amid weakening demand for used cars on the back of rising interest rates.