fromFortune
12 hours agoChegg's CEO once said he's the 'poster child' for AI shock. Now, the company is slashing 45% of staff | Fortune
Chegg is slashing about 45% of its workforce-388 roles-as the company says the "new realities of AI" and a sharp drop in Google-driven traffic have significantly reduced its student traffic and revenue. The edtech company will eliminate 388 positions globally, about 45% of its staff, in a major restructuring aimed at cutting costs and reshaping operations for an AI-first market environment. Chegg attributed the cuts to generative AI's rapid adoption among students and reduced Google referrals to content publishers, which it said have materially eroded demand for its services.
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