Chegg (NYSE: CHGG ) layoffs are a hot topic on Tuesday after the direct-to-student learning platform operator announced a restructuring plan. The Chegg layoffs will have the company cutting 23% of its global workforce.
The digital-education platform Chegg Inc. on Monday said it would slash nearly a quarter of its staff, a move it said would free up space for longer-term investments as it tries to offer more than just academic guidance to students and use more artificial intelligence.
Snap and Chegg are trading for less than $20 per share. Snap's ecosystem keeps expanding while it searches for new growth avenues.
The advent and increasing availability of large language models has disrupted the viability of this business.