Autonomous trucking software developer TuSimple is cutting 300 more U.S. jobs — 30% of its global workforce. But it will keep its China operations, reversing a plan to sell or spin them off.
The moves announced Thursday mean the company now will have just 750 employees. That’s about half its size before a restructuring in December that cut 350 jobs.
TuSimple shares closed 14.06% higher Thursday at $1.46.
The company has not filed required financial reports for the fourth quarter of 2022 or its annual 10-K. That puts it in violation of Nasdaq rules. Its TSP ticker symbol could be delisted as soon as the end of May.
The company said it will not file its 10-Q report for the January-to-March period on time because it is working with a new auditor. Its previous auditor, KPMG, quit last September over TuSimple’s reputational risks.