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TuSimple plans to cut half of workforce next week, WSJ reports

TuSimple plans to cut potentially at least half of its workforce next week, Heather Somerville of Wall Street Journal reports, citing people familiar with the matter. A staff reduction of that size would likely affect at least 700 employees, sources told the Journal. TuSimple CEO Cheng Lu, when asked to comment on the planned layoffs, told the Journal he intended “to right the ship, and this includes ensuring the company is capital efficient.” The company plans to scale back significantly its work on building self-driving systems and testing self-driving trucks on public roads in Arizona and Texas, the people familiar with the matter said. TuSimple will focus on building out a software product that matches self-driving trucks with shippers that have freight to haul, they added. Reference Link

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