Chegg to cut 23% of workforce (441 employees); targets $40-50M annual savings

CHEGG, INC

Workforce reduction of 441 employees (~23% of total) expected to yield $40M-$50M in annualized non-GAAP cost savings by 2025.
Restructuring charges of $10M-$14M to be incurred through Q4 2024; ~35% of cuts in US, 20% in Israel, rest in India.
CEO commits to 30%+ Adjusted EBITDA margin and at least $100M Free Cash Flow in 2025; plans to close two non-US offices.
Company will shift to functional organization, expand AI tools, localize internationally, and pursue institutional partnerships.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.