Restructuring

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

In May, the Company approved a restructuring plan (the “May 2024 Plan”) which was announced on May 3, 2024. The plan included reducing workforce by roughly 20% and sub-leasing of certain facilities. The actions disclosed commenced immediately following the announcement and are expected to be essentially complete by the end of 2024. By June 30, 2024, the reduction in workforce actions resulted in the termination of 155 employees. Total separation costs associated with the May

2024 Plan amounted to $6.3 million in the second quarter of 2024 and have been included as restructuring costs in the income statement. The following table summarizes the restructuring charges as of June 30, 2024.

	Severance expense		Other expenses		Total
Balance as of December 31, 2023	$	—	$	—	$	—
Restructuring charges	6,151		111		6,262
Cash payments	(3,300)		—		(3,300)
Non-cash charges	(1,412)		—		(1,412)
Balance payable and accrued liabilities as of June 30, 2024	$	1,439	$	111	$	1,550

The entire balance payable of $1.6 million relates to the Autonomy Solutions segment.