Restructuring Activities

6 Months Ended

Nov. 25, 2023

Restructuring Activities [Abstract]

Restructuring Activities

10. Restructuring Activities

During the second quarter of fiscal 2024, the Company initiated a cost reduction plan, including a reduction in force, (the “United States (U.S.) Restructuring Plan”) intended to reduce costs and streamline operations. The U.S. Restructuring Plan resulted in a reduction of force of approximately 8% of the Company’s U.S. management and administrative workforce. The Company incurred employee termination costs associated with the U.S. Restructuring Plan within its RGP segment, and were recorded in selling, general and administrative expenses in its Consolidated Statements of Operations. The U.S. Restructuring Plan was substantially completed during the second quarter of fiscal 2024. Restructuring costs were $2.3 million for the three and six months ended November 25, 2023.

The Company previously initiated global restructuring and business transformation plans in North America, Asia Pacific and Europe (the “Global Restructuring Plans”) during calendar year 2020 that were substantially completed in fiscal 2021. Restructuring adjustments, including real estate exit costs and adjustments to employee termination costs, associated with the restructuring activities was zero and ($0.4) million for the three and six months ended November 26, 2022. The restructuring liability was $0.3 million and zero as of November 25, 2023 and May 27, 2023, respectively.