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Pro@programming.dev

Chegg says subs dropped 31% in Q1 to 3.2M; it will lay off 248 employees, or ~22% of its staff, to cut costs as students keep turning to AI tools like ChatGPT (investor.chegg.com)

submitted 1 day ago by Pro@programming.dev to c/Technology@programming.dev

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In the first quarter, total revenue was $121 million, a decrease of 30% year-over-year. This includes Subscription Services revenue of $108 million. We had 3.2 million subscribers during the quarter, representing a year-over-year decline of 31%.

we regrettably will be parting ways with approximately 22% or 248 of our talented team members

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