(Reuters) -TuSimple Holdings Inc said on Thursday that it will restructure its U.S. operations and reduce headcount by 30% as it looks to preserve its balance sheet.
The autonomous driving technology company also said it is no longer seeking strategic alternatives for its Asia Pacific unit.
Its shares fell about 8% in premarket trading.
The move comes days after the firm received a delisting notice from Nasdaq for not filing its quarterly report on time.
The restructuring is expected to cost the company between $12 million and $13 million, it said in a statement, adding that the layoffs will only impact its employees in the U.S.
(Reporting by Akash Sriram in Bengaluru; Editing by Savio D’Souza and Shweta Agarwal)
