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Chegg
said on Monday it would lay off about 45% of its workforce, or 388 employees, as the “new realities” of artificial intelligence and diminished traffic from internet search have led to plummeting revenue.
The online education company, founded 20 years ago, has been hit by the rise of generative AI software tools, such as OpenAI’s ChatGPT, which have become increasingly popular among students. Chegg also sued Google
in February, arguing that AI summaries of search results have hurt its traffic and sales.
