Homework tool Chegg to slash 22% of workforce as AI bots steal away students
1. Chegg plans to cut 22% of its workforce due to AI competition. 2. Subscriber count fell 31% to 3.2 million, impacting revenue significantly. 3. Revenue dropped 30% to $121 million, with a net loss of $17.5 million. 4. Cost-cutting may save $45-$55 million in 2025 and $100-$110 million in 2026. 5. Chegg filed an antitrust lawsuit against Google over traffic loss.