Chegg

Chegg (CHGG) is restructuring due to AI disruption and declining organic search traffic, laying off 45% of its workforce (388 employees). The company cites the rise of AI platforms like ChatGPT and Google’s AI-driven search summaries as drivers of revenue decline. CEO Dan Rosensweig returns as Chegg pivots toward AI integration in its offerings. Chegg, after a strategic review, will remain an independent public company, believing this maximizes long-term shareholder value. Previous layoffs occurred in May.