Restructuring and Other Charges

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

Restructuring and Other Charges

In August 2024, the Company initiated a plan intended to improve its operating performance (the “Plan”). The Plan consisted of actions including but not limited to, workforce and facilities reductions. These actions commenced during the third quarter of 2024 and are expected to be substantially complete by the end of 2024. There is no guarantee that the actual charges to be incurred will not exceed management’s estimates or that future costs reduction will be achieved. Due to the size, nature and frequency of this Plan, it is fundamentally different from the Company’s ongoing productivity actions. As a result, all pre-tax charges related to such initiatives are separately reflected in Restructuring and other charges in the condensed consolidated statement of operations for the three and nine months ended September 30, 2024. Liabilities associated with the Plan are separately reflected in Accrued payroll liabilities and Accrued expenses and other current liabilities in the condensed consolidated balance sheet for personnel and non-personnel related charges, respectively. For the three and nine months ended September 30, 2024, the Company incurred total charges of $4,322 and remaining liabilities as of September 30, 2024 totaled $3,326.