In order to improve operational efficiencies, reduce operating expenses and streamline its overall organizational structure, the Company recently implemented two organizational restructurings. At the beginning of the fourth quarter of 2023, the Company began a workforce reduction which was substantially completed by the end of 2023, incurring restructuring charges of $2.5 million in the fourth quarter of 2023 for employee severance and other termination benefits. In May 2024, the Company implemented an additional workforce reduction plan (the May 2024 workforce reduction plan) that was estimable and probable as of March 31, 2024 and, as a result, recognized restructuring charges of $2.7 million in the first quarter of 2024 for employee severance and other termination benefits.

The following table sets forth severance and related benefits charges related to the May 2024 workforce reduction plan included in the accompanying condensed statements of operations (in thousands):


	Six Months Ended
	June 30, 2024
Cost of revenue	$	213
Research and development		1,099
Sales and marketing		1,011
General and administrative		455
Total	$	2,778

The changes in liabilities resulting from the restructuring accruals, which were recorded in accrued compensation and related benefits on the accompanying condensed balance sheet, were as follows (in thousands):


Balance as of December 31, 2023	$	854
Charges		2,778
Payments and other adjustments		(2,889	)
Balance as of June 30, 2024	$	743