Chegg Restructures Amid AI Disruption: A Deep Dive into Recent Changes
Chegg, a leader in online education, has announced a major restructuring, laying off 388 employees—about 45% of its workforce—due to the transformative impact of artificial intelligence and reduced web traffic. This follows a previous layoff of 22% as the company adapts to rapid advancements in AI technology.
Key Highlights:
- CEO Transition: Dan Rosensweig returns as CEO, succeeding Nathan Schultz, with a focus on strategic growth in AI tools.
- Financial Struggles: Once riding high during the pandemic, Chegg has seen its stock plummet 99% from a peak of $113.51 in February 2021.
- Product Evolution: Chegg is pivoting towards AI-driven services, including tools that automatically generate study materials.
As AI continues to reshape industries, Chegg aims to thrive as an independent entity.
Engage with us: Share your thoughts on Chegg’s journey or how AI is impacting education!
