Recent developments at Udemy have garnered attention as the company has announced a significant restructuring plan. Following hints of possible layoffs, Udemy has now shared detailed information about the restructuring process.
Here are the key points:
- Approximately 280 employees, which accounts for 20% of the global workforce, will be impacted by the restructuring.
- Udemy intends to rehire about half of the affected positions in lower-cost locations.
- The restructuring is estimated to cost between $16 million and $19 million.
- The plan is scheduled to be finalized by March 31, 2025.
With 1,443 full-time employees as of December 31, 2023, Udemy’s latest move comes in the wake of a market cap decline of 40% in 2024. The company reported a decrease in revenue in the second quarter of 2024, with Consumer revenues experiencing a notable drop.
Despite these challenges, Udemy had previously announced plans to adjust instructor revenue shares in the coming years, which initially resulted in a boost to the company’s market valuation.
While the road ahead may present some hurdles, Udemy remains focused on navigating the changing landscape of online learning and adapting to market dynamics.
