Restructuring Costs

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

In second quarter of 2024, the Company initiated a strategic restructuring plan to align its workforce with market opportunities, business strategies and evolving customer needs. This plan was executed in the second quarter of 2024, which affected less than 1% of the Company’s global workforce.

The restructuring costs include costs in relation to employee severance and other associated costs including legal fees and outplacement support costs. These costs have been recognized under cost of revenues (across all reporting segments), general & administrative and selling & marketing expenses in the unaudited consolidated statements of income.

The following table summarizes the activity related to the restructuring costs incurred and paid:


	Three months ended September 30, 2024						Nine months ended September 30, 2024
	Employee-Related Costs		Other Associated Costs		Total		Employee-Related Costs		Other Associated Costs		Total
Opening balance	$	637	$	355	$	992	$	—	$	—	$	—
Costs incurred during the period	—		—		—		4,397		365		4,762
Payments during the period	547		226		773		4,307		236		4,543
Closing balance	$	90	$	129	$	219	$	90	$	129	$	219