CHGG — Early Termination of Corporate Headquarters Lease
Dec 31, 2025, 12:00:00 AM UTC
Summary
Chegg, Inc. has announced the early termination of its corporate headquarters lease in Santa Clara, California, effective December 31, 2025. This decision is part of a broader restructuring plan aimed at streamlining operations and aligning costs with industry challenges, including a decline in traffic. The lease termination will relieve the company of approximately $5.3 million in operating lease obligations and will not require any rent payments from July 2025 to December 2025. The restructuring plan is expected to impact about 248 employees, resulting in charges of around $34 million to $38 million, but is projected to yield annualized non-GAAP cost savings of $45 million to $55 million in fiscal year 2025 and $100 million to $110 million in fiscal year 2026.
Company
CHEGG INC (CHGG)NYSE — Consumer Defensive: Services, Education & Training Services: Services-Educational Services
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