(Reuters) -Educational technology company Chegg said on Monday it would cut 388 roles globally, or about 45% of the workforce, to reduce costs and streamline operations as it works to adapt to the growing shift toward AI-powered tools.
The company, which offers textbook rentals, homework help and tutoring, said the "new realities of AI and reduced traffic from Google to content publishers have led to a significant decline in Chegg's traffic and revenue".
