Chegg, once a mainstay for college students seeking homework help and textbook rentals, is cutting nearly half its workforce as artificial intelligence continues to reshape the education industry.
The Santa Clara company said Monday it would lay off about 45% of its staff, or 388 employees, citing the rapid growth of artificial intelligence.
“The new realities of AI and reduced traffic from Google to content publishers have led to a significant decline in Chegg’s traffic and revenue,” the company said in a statement…