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Why Chegg (CHGG) Is Down 31.0% After Major Layoffs and CEO Return Amid Strategic Shift
Earlier this week, Chegg announced a major restructuring, revealing plans to eliminate approximately 388 roles, or 45% of its global workforce, alongside the return of former CEO Dan Rosensweig as President and CEO. This shakeup comes as Chegg pivots its primary focus from the challenged homework help segment towards professional courses and skills development, responding to pressures from artificial intelligence and decreasing web traffic. We’ll explore how Chegg’s dramatic workforce... Oct 31, 2025 - $CHGG
Why Are Chegg (CHGG) Shares Soaring Today
Shares of online study and academic help platform Chegg (NYSE:CHGG) jumped 5.8% in the afternoon session after the stock rebounded as the company announced a major restructuring plan that included a leadership change and a significant reduction in its workforce. As part of the shift, executive chairman Dan Rosensweig returned to the role of president and CEO. Chegg's plan involved cutting its workforce by 45% with the goal of reducing expenses by $100 million by 2026. This move was a response to Oct 31, 2025 - $CHGG
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