XML 27 R17.htm IDEA: XBRL DOCUMENT v3.25.2
Reorganization and Realignment Costs
 6 Months Ended
Jun. 29, 2025
Restructuring and Related Activities [Abstract]  
Reorganization and Realignment Costs Reorganization and Realignment Costs
The following is a summary of the initiatives included in “Reorganization and realignment costs:”
Three Months EndedSix Months Ended
June 29,
2025		June 30,
2024		June 29,
2025		June 30,
2024
Organizational Redesign Plan$106 $2,409 $(844)$8,031 
Other reorganization and realignment plans68 43 326 94 
Reorganization and realignment costs$174 $2,452 $(518)$8,125 

Organizational Redesign

In February 2023, the Board of Directors approved a plan to redesign the Company’s organizational structure to better support the execution of the Company’s long-term growth strategy by maximizing organizational efficiency and streamlining decision making (the “Organizational Redesign Plan”). Additionally, in January 2024, the Board of Directors announced the appointment of a new President and Chief Executive Officer and the departure of the Company’s previous President and Chief Executive Officer. The Company expects to incur total costs of approximately $17,000 related to the Organizational Redesign Plan, including costs related to the 2024 succession of the President and Chief Executive Officer role. During the six months ended June 29, 2025, the Company recognized costs totaling $(844), which primarily included a reversal of a severance accrual. During the six months ended June 30, 2024, the Company recognized costs totaling $8,031, which primarily included severance and related employee costs. The Company expects to incur additional costs aggregating approximately $400, comprised primarily of share-based compensation. The Company expects costs related to the Organizational Redesign Plan to continue into 2026.

The following is a summary of the costs recorded as a result of the Organizational Redesign Plan:
Three Months EndedSix Months EndedTotal Incurred Since Inception
June 29,
2025		June 30,
2024		June 29,
2025		June 30,
2024
Severance and related employee costs (a)$(6)$1,948 $(1,094)$7,310 $12,402 
Recruitment and relocation costs— — 13 82 736 
Third-party and other costs— 14 — 64 1,116 
(6)1,962 (1,081)7,456 14,254 
Share-based compensation (b)112 447 237 575 2,333 
Total organizational redesign$106 $2,409 $(844)$8,031 $16,587 
_______________

(a)The six months ended June 29, 2025 includes a reversal of an accrual as a result of a change in estimate.

(b)Total incurred since inception primarily represents the accelerated recognition of share-based compensation resulting from the termination of employees under the Organizational Redesign Plan.
As of June 29, 2025, the accruals for the Organizational Redesign Plan are included in “Accrued expenses and other current liabilities.” The tables below present a rollforward of our accruals for the Organizational Redesign Plan.
Balance
December 29,
2024
ChargesPayments
Balance
June 29,
2025
Severance and related employee costs$4,257 $(1,094)$(1,897)$1,266 
Recruitment and relocation costs— 13 (13)— 
Third-party and other costs— — — — 
$4,257 $(1,081)$(1,910)$1,266 

Balance
December 31,
2023		ChargesPaymentsBalance
June 30,
2024
Severance and related employee costs$1,692 $7,310 $(2,233)$6,769 
Recruitment and relocation costs— 82 (82)— 
Third-party and other costs— 64 (64)— 
$1,692 $7,456 $(2,379)$6,769 

Other Reorganization and Realignment Plans

Costs incurred under the Company’s other reorganization and realignment plans were not material during the six months ended June 29, 2025 and June 30, 2024. The Company does not expect to incur any material additional costs under these plans.