Quarterly report pursuant to Section 13 or 15(d)

Restructuring and Related Charges (Tables)

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Restructuring and Related Charges (Tables)
 3 Months Ended
Mar. 31, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Components of and Changes in Restructuring and Related Charges
The components of the restructuring charges (including professional service fees) are as follows:
Three Months Ended March 31,
2024 2023
(in thousands)
Severance and benefits (1)
$ 1,039  $ 4,386 
Accelerated expense on abandoned right-of-use assets (2)
317  1,482 
Professional fees (3)
742  4,006 
Other (4)
42  — 
Total restructuring charges $ 2,140  9,874 
(1)Charges of $0.2 million and $1.7 million recorded in cost of services (exclusive of depreciation and amortization) for the three months ended March 31, 2024 and 2023 respectively. Charges of $0.8 million and $2.7 million recorded in selling, general and administrative expenses for the three months ended March 31, 2024 and 2023 respectively.
(2)Charges for accelerated expense and additional costs associated with abandoned right-of-use assets recorded in selling, general and administrative expenses.
(3)Professional service fees consist of consulting costs related to the execution of the Company’s global restructuring plan to improve the Company’s cost structure, operating efficiency, and redesign and right size the organization. These charges are recorded in selling, general and administrative expenses.
(4)Other charges recorded in selling, general and administrative expenses.
The following table provides the components of and changes in the Company’s restructuring and related charges, included in accrued salaries and payroll and accrued expenses and other current liabilities on the condensed consolidated balance sheets:
March 31, 2024
(in thousands)
Balance at December 31, 2023
 $ 3,438 
Charges incurred (1)
1,823 
Payments (2,279)
Balance at March 31, 2024
 $ 2,982 

(1)Includes $1.0 million in charges for employee severance and benefits related to the workforce reduction, $0.5 million of which remains unpaid as of March 31, 2024.