CHEGG, INC (CHGG): restructuring charge — Chegg cuts 45% of workforce, CEO Schultz departs; Rosensweig returns as CEO, strategic review concludes

CHEGG, INC

Workforce reduction of 388 employees (~45% of global staff); estimated charges of $15M-$19M.
CEO Nathan Schultz steps down; Dan Rosensweig returns as President and CEO, effective immediately.
Restructuring expected to reduce 2026 non-GAAP expenses by ~$100-110M; Q3 2025 guidance reaffirmed.
Strategic review concluded; Chegg will remain a standalone public company; cites $40B+ skilling market.

item 2.02 item 2.05 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

CHEGG, INC announced a restructuring with charges of approximately $15 million to $19 million (approximately 388 employees, or about 45% of our current workforce).

Type: restructuring
Charge: approximately $15 million to $19 million
Headcount: approximately 388 employees, or about 45% of our current workforce

Exact text from the filing

align our cost structure with our newly announced strategic focus relating to our operations on a stand-alone basis. We estimate that we will incur charges of approximately $15 million to $19 million in connection with these actions, primarily consisting of expenditures for employee transition and severance payments, employee benefits and other related costs.

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Source: SEC EDGAR

accession 0001364954-25-000112

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