Coursera said on Monday it would cut jobs, affecting an unspecified number of employees, after the online education platform's acquisition of Udemy.
The company expects to incur charges of $8 million to $11 million, primarily from severance and related benefits for affected staff.
Here are some details:
* Coursera did not immediately return a request for comment seeking information about the number of impacted employees. As of December 31 last year, Coursera had 1,307 full-time employees, while Udemy had 1,380 full-time employees.
* The move follows Coursera's completion of the merger with Udemy on May 11, creating a combined entity aimed at optimizing its cost structure and operational model.
* The company said that most of the expenses related to the job cuts are anticipated to be cash expenditures, recognized in the third and fourth quarters.
* Coursera said that the timeline for position eliminations might extend beyond 2026 in certain regions due to local legal requirements and consultation processes.
* More than 200 tech companies have laid off over 119,400 employees so far this year, according to Layoffs. fyi, a website tracking sector-wide job cuts.
