The online education provider Coursera, Inc. announced on Monday that it will be reducing its workforce as part of a restructuring following its acquisition of Udemy, Inc., though the exact number of employees affected has not been disclosed.
The company anticipates incurring related expenses of between $8 million and $11 million, primarily for severance payments and benefits for the impacted staff.
Here are the details of the situation:
As of December 31 last year, Coursera reported having 1,307 full-time employees, while Udemy had 1,380 full-time employees.
This workforce reduction follows the completion of the merger between Coursera and Udemy on May 11, which created a combined entity aimed at streamlining its cost structure and operational framework.
The company stated that the majority of the costs associated with the layoffs are expected to be cash expenditures and will be recognized in the third and fourth quarters.
Coursera indicated that the timeline for implementing the job cuts in certain regions may extend beyond 2026 due to local legal requirements and consultation processes.
According to data from the industry-tracking website Layoffs.fyi, more than 200 technology companies have eliminated over 119,400 positions so far this year.
Comments