Reported about 6 hours ago
Chegg, an edtech company, announced a drastic reduction of 388 jobs, approximately 45% of its workforce, to adapt to the shift toward AI technologies that have impacted its traffic and revenue. The company also appointed Dan Rosensweig as the new CEO, replacing Nathan Schultz. Chegg is restructuring to navigate increased competition from AI tools and has concluded a strategic review, opting to remain a standalone company.
Source: YAHOO