

Chegg, an online education service, has seen its share price plummet by 99% in less than four years, largely due to a post-pandemic decline in digital learning and the rise of artificial intelligence (AI) tools like ChatGPT. These AI tools offer free alternatives to Chegg's tutoring services, which primarily assist students with homework. On November 12th, Chegg's CEO Nathan Schultz acknowledged the challenges posed by technological shifts, and the company announced plans to lay off 20% of its workforce.


Chegg, an online education service, has seen its share price plummet by 99% in less than four years, largely due to a post-pandemic decline in digital learning and the rise of artificial intelligence (AI) tools like ChatGPT. These AI tools offer free alternatives to Chegg's tutoring services, which primarily assist students with homework. On November 12th, Chegg's CEO Nathan Schultz acknowledged the challenges posed by technological shifts, and the company announced plans to lay off 20% of its workforce.
•The decline is attributed to a postpandemic slump in digital learning.
•The rise of AI tools like ChatGPT offers free alternatives to Chegg's services.
•CEO Nathan Schultz acknowledged the challenges from technology shifts.
•Chegg plans to lay off 20% of its workforce.
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