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Chegg Cuts 22% Workforce Amid Declining Demand and Revenue

5/14/2025

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Summary

Story summary

Chegg will lay off 22% of its workforce, affecting 248 employees, due to reduced demand from AI tools.
The company will close its U.S. and Canada offices by year-end and cut marketing and product development costs.
Chegg's Q1 2025 revenue fell 30% to $121 million, with a 31% drop in subscribers.
The restructuring aims to save $45–$55 million this year and $100–$110 million by 2026.

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Story summary

Chegg will lay off 22% of its workforce, affecting 248 employees, due to reduced demand from AI tools.
The company will close its U.S. and Canada offices by year-end and cut marketing and product development costs.
Chegg's Q1 2025 revenue fell 30% to $121 million, with a 31% drop in subscribers.
The restructuring aims to save $45–$55 million this year and $100–$110 million by 2026.