Chegg, Down From $12 Billion To $159 Million In Value, Lays Off Hundreds; CEO Blames Google and AI

16-11-24 02:00	Slashdot
Chegg, Down From $12 Billion To $159 Million In Value, Lays Off Hundreds; CEO Blames Google and AI Chegg, the online education company, is laying off 319 workers as it struggles to compete against modern AI chatbots. SFGATE reports: Chegg announced the new layoff round, which will hit 21% of its workforce, in a filing with the Securities and Exchange Commission on Tuesday. The company delivered the news alongside another brutal quarterly financial report; Chegg lost more than $212 million from July through September. CEO Nathan Schultz, in prepared remarks accompanying the report, expressed s... Read the full article on Slashdot »
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Chegg, Down From $12 Billion To $159 Million In Value, ... 16-11-24 02:00