Chegg To Reduce Its Global Headcount By 23% To Become A Leaner, More Efficient Organization, Increasing The Speed Of Innovation And Aligning Its Expense Base With Near-term Revenue Trends; Expects The Restructuring Will Result In Non-GAAP Expense Savings For 2025 Of $40M-$50M

Chegg is now leaner and more focused, allowing teams to innovate faster and deliver on the Student First mission

Chegg, a leading student-first online learning platform, announced a restructuring plan today and published a Shareholder Letter describing its comprehensive strategy to refocus the company on its core audience – students – and provide 360 degrees of individualized support to learners in high school, college, and around the world.

The restructuring includes the departure of 441 employees, which represents 23% of Chegg's global workforce. In 2025, the company expects to realize non-GAAP expense savings of $40 million to $50 million from employee departures, the closure of two offices outside of the United States, as well as other cost rationalizations. Chegg expects to incur a $10 million to $14 million charge related to the restructuring, with roughly half in the second quarter, and substantially the charges will be incurred by the fourth quarter of 2024.