AI Tsunami Crushes Chegg: 45% of Jobs Axed, Stock Plunges
Massive Cuts and CEO Shakeup Chegg’s announcement on Oct. 27 came as a shock to many in education and tech. The 388-job cut represents one of the largest reductions in its history (Chegg had only about 1,270 employees as of end-2024 reuters.com). CEO Dan Rosensweig – who led Chegg through its peak years – is returning to steer the overhaul, replacing Nathan Schultz. Schultz, who transformed Chegg from a textbook-rental service into a broader learning platform, was thanked for his contributions but agreed to step aside stocktitan.net. Rosensweig’s message was cautiously optimistic: “I’m confident Chegg has a bright future, and