"Chegg said it will remain a standalone public company after a year-long strategic review conducted with Goldman Sachs. The company plans to cut roughly 45% of its global workforce-about 388 roles-as part of an effort to streamline operations and refocus on skilling and workplace learning. Management expects the restructuring to reduce 2026 non-GAAP expenses by about $100-110 million, with one-time charges of $15-19 million, mostly tied to severance payments."
"Revenue: $105.12 million (down 23% year over year) Gross Profit: $69.64 million Net Loss: $35.66 million (improved from $212.64 million loss last year) Operating Income: $36.46 million loss Operating Cash Flow: -$4.84 million Free Cash Flow: -$12.07 million The improvement in losses underscores progress in cost discipline, even as cash flow remains negative. Rosensweig's return signals renewed leadership focus on Chegg's future beyond traditional academic tutoring. The company is pivoting toward professional upskilling, leveraging its Busuu language-learning business and newly developed AI-driven workplace readiness tools."
Chegg announced a sweeping restructuring that will cut roughly 45% of its global workforce — about 388 roles — and confirmed founder Dan Rosensweig will return as CEO. The company will remain a standalone public firm after a year-long strategic review with Goldman Sachs. Management expects the restructuring to reduce 2026 non-GAAP expenses by about $100–110 million and incur one-time charges of $15–19 million, mostly for severance. The move aims to boost cash flow and fund a pivot toward the professional skilling market, leveraging Busuu and new AI-driven workplace readiness tools. Recent results show revenue of $105.12 million and an improving net loss, while cash flow remains negative.
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