Restructuring and Reorganization Charges

3 Months Ended

Mar. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring and Reorganization Charges

6. RESTRUCTURING AND REORGANIZATION CHARGES

For the first quarters ended March 31, 2022 and 2021, we recorded restructuring and reorganization charges of $13.1 million and $1.1 million, respectively.

During the first quarter of 2022 we implemented the following restructuring and reorganizational activities:

•In connection with our workplace of the future philosophy, we consolidated space at six of our leased real estate locations in the United States and India, resulting in restructuring charges related to the impairments of operating lease right-of-use assets, furniture and fixtures, and leasehold improvements and accelerated depreciation of $11.1 million.

•We reduced our workforce by approximately 20 employees, mainly in North America, as a result of organizational changes and efficiencies. As a result, we incurred restructuring charges related to involuntary terminations of $1.5 million

The activity in the business restructuring and reorganization reserves during the first quarter of 2022 was as follows (in thousands):

	Termination
	Benefits			Other			Total
January 1, 2022, balance	$	675		$	-		$	675
Charged to expense during period		1,490			11,616			13,106
Cash payments		(1,363	)		(388	)		(1,751	)
Adjustment for asset impairment		-			(10,667	)		(10,667	)
Other		117			(561	)		(444	)
March 31, 2022, balance	$	919		$	-		$	919

As of March 31, 2022, $0.9 million of the business restructuring and reorganization reserves were included in current liabilities.