---
schema_version: "secwatch.filing_event.v1"
accession: "0001364954-24-000066"
form_type: "8-K"
ticker: "CHGG"
cik: "0001364954"
company_name: "CHEGG, INC"
filed_at: "2024-06-17T23:59:59+00:00"
generated_at: "2026-06-01T04:04:25.931071+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001364954-24-000066
- form_type: 8-K
- ticker: CHGG
- cik: 0001364954
- company_name: CHEGG, INC
- filed_at: 2024-06-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1364954/000136495424000066/0001364954-24-000066-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1364954/000136495424000066/chgg-20240617.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001364954-24-000066
- JSON: https://secwatch.observer/filing/0001364954-24-000066.json
- Plain text: https://secwatch.observer/filing/0001364954-24-000066.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.