Reported 8 months ago
Shares of Chegg (CHGG) are trading higher Tuesday after the company announced plans to slash 23% of its global workforce as part of a broader restructuring initiative. Analysts are looking at how the cost savings resulting from the job cuts will be utilized, whether for reinvestment in the company's AI efforts or to safeguard margins. Chegg has been facing challenges in revenue growth due to competition from free AI solutions, and investors are watching closely to see if the restructuring plan will lead to improved financial performance.
Source: YAHOO