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Restructuring and Impairment
3 Months Ended
May 04, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Impairment Restructuring and Impairment
Workforce Realignment
In February 2024, we initiated a workforce realignment plan (the Plan) to better align our resources with our business strategy that reduced our headcount by nearly 250 employees globally. We recognized total restructuring costs of $27.9 million associated with one-time severance and other termination benefits, of which $9.9 million was recognized in the first quarter of fiscal 2025. The restructuring costs recognized in the first quarter of fiscal 2025 included $0.4 million in cost of revenue in our condensed consolidated statement of operations. The Plan was completed by the third quarter of fiscal 2025.
Facilities Abandonment and Impairment
During the first quarter of fiscal 2025, we recognized $6.4 million in incremental abandonment and impairment charges related to certain leases associated with our former corporate headquarters that we ceased use during the second quarter of fiscal 2024. The incremental impairment charge represents the amount that the carrying value of the underlying asset exceeded its estimated fair value, which was determined by utilizing a discounted cash flow approach that incorporated revised sublease assumptions.