TuSimple confirms plans to lay off 25% of its workforce, or an estimated 350 workers, following a rough year for the self-driving trucking company (Rebecca Bellan/TechCrunch)

Heather Somerville / Wall Street Journal:
Filings: TuSimple co-founder Mo Chen consolidates power, acquiring 59% of the voting stock, as the US investigates the self-driving trucking company  —  Federal authorities continue to investigate entity’s relationship with a Chinese startup tied to co-founder Mo Chen

Wall Street Journal:
Sources: US-based self-driving trucking company TuSimple faces US federal probes into whether it improperly financed and transferred tech to a Chinese startup  —  Government authorities are investigating whether the U.S. self-driving trucking company defrauded investors by financing and transferring technology to China-backed Hydron

Wall Street Journal:
TuSimple’s board fires CEO Xiaodi Hou after reports the US is probing whether it improperly financed and transferred tech to a Chinese startup; stock drops 44%+  —  Self-driving trucking company’s leadership faces federal investigations into whether it improperly financed and transferred technology to a Chinese startup

Deepsekhar Choudhury / Moneycontrol:
Source: Indian B2B marketplace Udaan plans to lay off 325 to 350 employees, or about 10% of its workforce, a week after raising $120M in convertible debt  —  Up to 350 on-payroll employees to get impacted, apart from a number of contractual workers  —  A week after securing $120 million …

Kathryn Hardison / Wall Street Journal:
Carvana says it will lay off about 1,500 people, or ~8% of its workforce, adding to the ~2,500 workers it laid off in May 2022  —  Planned workforce reductions come as demand from consumers remains under pressure  —  How Carvana’s Stock Crashed: What Went Wrong  —  Created with sketchtool.

Juro Osawa / The Information:
Sea Ltd., Southeast Asia’s largest internet firm by revenue and market value, has laid off 7,000+ employees, or ~10% of its staff, over the past six months  —  Sea Ltd., Southeast Asia’s largest internet company by revenue and market value, has laid off more than 7,000 employees …