Coursera NYSE:COUR 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.