Restructuring Charges

6 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Upon performing a strategic review of the Company’s capacity and future projections, the Company initiated restructuring actions in the third and fourth quarters of 2022, both of which were completed as of December 31, 2022. The purpose of the restructuring was to better align the organization and cost structure and improve the affordability of products and services. A liability reflecting unpaid employee separation costs of $1,535 is presented on the consolidated balance sheets within other current liabilities as of December 31, 2022.

During the first quarter of 2023, the Company further refined its organizational structure to align with the change in its reportable and operating segments, resulting in additional employee separation costs of $780, net of tax benefits. The Company had completed this restructuring action as of March 31, 2023. A liability reflecting unpaid employee separation costs of $349 is presented on the consolidated balance sheets within other current liabilities as of June 30, 2023.

The table below presents the activity in restructuring charges for the six months ended June 30, 2023:



As of December 31, 2022	$	1,535
Additions	780
Settlements	(1,966)
As of June 30, 2023	$	349