The Coli told me AI ain’t taking nobody’s job

[Standing on business]

Chegg layoffs: Company to cut over 300 jobs, CEO blames AI​

23 hours ago
Alex Baker

Chegg headquarters in Santa Clara, California, US, on Tuesday, May 2, 2023. Chegg Inc. shares plunged more than 40% in early trading on Tuesday after the company said OpenAI's ChatGPT is threatening the growth of its homework-help services. Photographer: David Paul Morris/Bloomberg via Getty Images

(KRON) — Santa Clara-based education tech company announced plans to slash its workforce by 21% this week and the CEO put part of the blame on AI. In a filing with the Securities and Exchange Commission Tuesday, Chegg announced it would be letting go of 319 employees.
The 21% reduction of its headcount is part of a restructuring plan intended to “streamline” operations and better align the company’s “cost structure with recent industry challenges that are negatively impacting” its business, the company said. Some of those challenges, according to the SEC filing, include increased competition and students using generative AI.
The company estimates that the layoffs will cost Chegg between $22 and $26 million, $18 to $22 million of which will be used for employee transitions, severance payments, employee benefits and other costs.
In a press release accompanying the SEC filing, Chegg CEO and President Nathan Schultz spoke of “recent technology shifts and generative AI,” which have created “significant headwinds.”
“As a result, we are undertaking an additional restructuring,” Schultz said. “There continues to be a market of students looking for the high-quality, proven, and differentiated learning expertise Chegg provides, and we believe our brand and product experience are resilient and will endure.”
Chegg, which provides online tutoring, homework assistance and digital textbooks, is the second Bay Area tech company to announce major layoffs this week ahead of the holidays. On Tuesday, 23andMe announced plans to cut 200 jobs.

 

[Sad Bunny]

Tech companies laying off like crazy. Damn.

And they used to tell us to get these types of jobs.

 

[Sad Bunny]

But to be fair look at the type of business Chegg is lol

 

[The Plug]

I mean, I told y'all that chegg is borderline useless now because Chatgpt is significantly cheaper and more efficient at doing what they do.

As a matter of fact, most of those mfs on Chegg use chat gpt.

 

[Tribal Outkast]

But to be fair look at the type of business Chegg is lol

This.

 

[desjardins]

And they used to tell us to get these types of jobs.

in the past it wasn't as big a deal because laid off engineers would just create start ups
some of which would go on to employ thousands. now those companies are forming monopolies
creating situations where it either makes no sense to target a market or if you do have success you just get bought out in an acquisition before you reach the stage of being a job creator

 

[BlaccSunrise]

@bnew Been told y'all what time it is.