Udemy, the online learning platform, has announced plans to lay off 280 employees. These job cuts represent approximately 20 per cent of its global workforce.
This move is part of a broader restructuring plan aimed at reducing organisational layers to improve efficiency.
The company intends to rehire around half of these positions in regions with lower operational costs, signalling a shift in its approach to managing global resources.
The San Francisco-based firm disclosed the layoffs in a regulatory filing following the announcement of its restructuring plan during its second-quarter earnings call in July. The plan, which spans from the third fiscal quarter of 2024 to the first quarter of 2025, is expected to cost between $16 million and $19 million, primarily in severance payments. Udemy aims to complete the restructuring by 31 March, 2025.
This follows a previous workforce reduction of about 10 per cent in 2023, with Udemy reporting 1,443 full-time employees at the end of last year. The company’s ongoing restructuring aims to position it for future market opportunities, focusing on growth in its enterprise segment to drive accelerated profitability.
Despite these cuts, Udemy reported a nine per cent year-over-year increase in total revenue for the second quarter of 2024, reaching $194.4 million. Its enterprise segment saw a 19 per cent growth in revenue, while annual recurring revenue grew by 17 per cent.
