Subsequent Events |
12 Months Ended |
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Dec. 31, 2022 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events Restructuring Plan
In March 2023, management approved a global restructuring plan intended to improve the Company’s cost structure and operating efficiency in response to ongoing uncertain macroeconomic conditions. The restructuring plan includes a targeted reduction in its workforce of approximately 3.0%. The Company expects to incur expenses related to employee severance and employee benefits in connection with the workforce reduction during the first quarter of 2023. The Company expects the workforce reduction to be substantially complete by the end of the first quarter of 2023. No accrual was recorded as of December 31, 2022. In addition, as part of the restructuring plan, the Company will exit certain facilities in 2023 and will record accelerated right-of-use lease amortization expense and accelerated depreciation and amortization of related fixed assets. The Company expects to incur expenses of approximately $4.5 million to $5 million in 2023 related to the restructuring plan.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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