Chegg (CHGG) to Boost Growth With New Restructuring Plan

The company wishes to reduce its global headcount by 23%, primarily to emerge as a more efficient organization, increase the speed of innovation and align its expense base with near-term revenue trends. Chegg also aims to simplify systems and processes, using partners to leverage best-in-class software for applications that are not core to its business. Shares of this student-first online learning platform plunged 77% in the year-to-date period against the Zacks Internet - Software industry's 13.3% growth. ...