Chegg restructures and announces layoffs amid surge in market activity.
New York: Chegg Inc., a major leader in the education technology sector, has revealed a significant reorganization plan that includes layoffs of 23% of its global staff, or 441 individuals. This decision comes after a significant 20.3% spike in post-market trades following the announcement. Nathan Schultz, Chegg’s President and CEO, stressed the importance of this…