Chegg to Stay Public, Slashes Workforce in Skilling-Focused Overhaul

Group 1 - Chegg, Inc. has decided to remain a standalone public company after a year-long strategic review, concluding that independence maximizes long-term shareholder value [1] - The company announced a restructuring plan aimed at strengthening cash flow and focusing on the $40+ billion skilling market, which includes reducing its workforce by 388 roles (about 45%) [2] - Chegg expects its "Skills" businesses to generate approximately $70 million in revenue for 2025, with double-digit growth anticipated in 2026 [2] Group 2 - Executive Chairman Dan Rosensweig has returned to the roles of president and CEO, while Nathan Schultz has taken on the role of executive advisor to the CEO and board [1] - The restructuring plan targets a reduction of $100–$110 million in non-GAAP expenses for 2026 and anticipates incurring $15–$19 million in severance charges [2] - Chegg reiterated its Q3 2025 revenue and adjusted EBITDA guidance, indicating a focus on delivering services with a lower cost structure [2]