Layoffs are coming for self-driving truck company TuSimple

Layoffs are coming for self-driving truck company TuSimple

According to The, TuSimple, an autonomous trucking technology company, plans to reduce a portion of its workforce as soon as this week. Wall Street Journal, which cited “people who are familiar with the matter.”

The Journal reported that TuSimple could be affected by layoffs at least half of its workforce. However, a source close to TechCrunch said that this number was not correct but would not give more details. According to some online forums, it could be closer to 15% Speculative There’s been a game on the telephone here (e.g. 15 sounds like 50).

Talks of TuSimple layoffs have been ongoing for weeks, especially after the end of Deal between TuSimple and Navistar to co-develop purpose-built autonomous semi-trucks. TuSimple already has Rescinded Offers It allowed interns to join the company. Posts on LinkedIn Blind has mentioned “huge layoffs.”

Although the exact number of employees being let go is unknown, TuSimple currently employs approximately 1,430 full-time workers worldwide. It’s not surprising that another tech company is seeing its size decrease due to internal dramas and macroeconomic headwinds.

TuSimple has seen a few executive shakeups in the past year. Last month, Cheng Lu, CEO, was asked to resign in March to take up an advisory role. His predecessor and TuSimple founder Xiaodi Hu was fired Following an internal investigation that revealed certain employees had ties to Hydron, a China-backed hydrogen trucking company, and shared confidential information with them, the company is still facing legal issues. The company is still facing allegations. multiple federal investigations Hydron is its relationship.

The stock price of TuSimple has also fallen this year, dropping 95.63% compared to January. Additionally, the company has had to deal with investor anxiety following the April: One of its trucks was involved in a crash. TuSimple, a company that is developing frontier technology, has struggled to generate enough revenue to pay its cash burn. The following is the third quarterTuSimple suffered $113 million losses on $2.7 million revenue. This revenue came from hauling freight for shippers using trucks with a human safety operator.

Lu stated to TechCrunch that, “Like any technology-driven company, we are closely reviewing our spending and determining how to align it with our strategy.”

WSJ reported that TuSimple plans reduce its work in self-driving technology and testing autonomous trucks on public roads across Arizona and Texas. TechCrunch was denied this claim by Lu. According to sources, the Journal would see a reduction in the number of teams involved in TuSimple’s operations in Tucson as well as self-driving software algorithms.

Some of the likely layoffs could be caused by the teams that co-build trucks with Navistar. TechCrunch was informed by a source that TuSimple plans to replace Navistar with a new OEM partner.

Sources informed WSJ that they expect layoffs starting Tuesday. TuSimple also told employees offices would be closed Tuesday and Wednesday.

Canary in the coal mine

Interns who were offered to join the company, as well current TuSimple employees, mentioned layoffs at the company on LinkedIn.

“Affected today’s TuSimple massive layoffs my return offer as Research Engineer was rescinded.” Posted An ex-intern who worked at TuSimple between June and September was the one earlier this month.

As a response to a Question Blinded by a person who had recently interviewed at the company. One TuSimple employee stated on December 5 that they were going through massive layoffs. Stock is at an all-time low. There is no clear path to make money,” the same person said.

Other comments on TuSimple Blind’s profile echo this sentiment. The December 6th company review was titled “never trust that company.” An employee who is a software engineer stated that TuSimple is a company that “provides” benefits.[s] You may experience a hallucination. [it] “May succeed.” Cons were listed with toxic culture, terrible CEO, no profitable product, and massive layoffs.

TechCrunch was told by the company that blind posts are anonymous. However, it stated that its community is comprised of professionals who have been verified. If a person is not verified as an employee at work using their email, they cannot post.

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