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Restructuring Charges, Net
 12 Months Ended
Apr. 30, 2024
Restructuring and Related Activities [Abstract]  
Restructuring Charges, Net Restructuring Charges, Net
In fiscal 2024, in light of the challenging macroeconomic business environment arising from persistent inflationary pressures, rising interest rates and global economic and geopolitical uncertainty, on October 23, 2023, the Company initiated a plan (the “Plan”) intended to align its workforce with its current business realities through position eliminations. Due to the implementation of the Plan, the Company recorded restructuring charges of $68.6 million during fiscal 2024 across all lines of business related to severance for positions that were eliminated.
In fiscal 2023, in light of the Company’s evolution to an organization that is selling larger integrated solutions in a world where there are shifts in global trade lanes and persistent inflationary pressures, on January 11, 2023, the Company implemented a separate restructuring plan intended to realign its workforce with its business needs and objectives, namely, to invest in areas of potential growth and implement reductions where there is excess capacity. Due to the implementation of the plan, the Company recorded restructuring charges of $42.6 million during fiscal 2023 across all lines of business related to severance for positions that were eliminated. There were no restructuring charges in fiscal 2022.
Changes in the restructuring liability were as follows:
Restructuring Liability
(in thousands)
As of May 1, 2021$6,985 
Reductions for cash payments(4,829)
Exchange rate fluctuations(654)
As of April 30, 20221,502 
Restructuring charges, net42,573 
Reductions for cash payments(24,485)
Non-cash payments(10,827)
Exchange rate fluctuations(759)
As of April 30, 20238,004 
Restructuring charges, net68,558 
Reductions for cash payments(57,636)
Non-cash payments(15,421)
Exchange rate fluctuations399 
As of April 30, 2024$3,904 
As of April 30, 2024 and 2023, the restructuring liability is included in the current portion of other accrued liabilities on the consolidated balance sheets.
Restructuring charges incurred by segment were as follows:
Year Ended April 30
2024
2023
2022
(in thousands)
Consulting$18,871 $11,613 $— 
Digital9,469 2,856 — 
Executive Search:
North America8,825 4,515 — 
EMEA17,265 12,732 — 
Asia Pacific1,963 2,129 — 
Latin America110 697 — 
Professional Search & Interim3,778 4,835 — 
RPO7,885 3,097 — 
Corporate392 99 — 
Consolidated$68,558 $42,573 $—