In a significant move to address the changing dynamics of the online education industry, Chegg Inc. $CHGG has announced plans to lay off approximately 22% of its workforce, equating to around 248 employees. The decision comes in response to the increasing reliance of students on artificial intelligence (AI) tools such as ChatGPT, which have disrupted traditional educational platforms. Chegg, known for its textbook rentals, homework help, and tutoring services, has been facing declining web traffic in recent months, a trend that the company anticipates will likely worsen before it improves.