Restructuring Costs

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring Costs

Restructuring Costs 

2022 Corporate Restructuring Plan

In June 2022, the Company announced a plan to optimize its cost structure to reduce total quarterly cash operating expenses, excluding inventory purchases.

The Company’s cost structure optimization efforts included a nearly 50% reduction in its workforce that was completed at the end of August 2022 (the “2022 Corporate Restructuring Plan”). Restructuring expense of $3,345, comprised primarily of severance related costs, was recorded for the year ended December 31, 2022.

The following table sets forth activities for the Company’s 2022 Corporate Restructuring Plan obligations as of December 31, 2022:

2022 Corporate Restructuring Plan Obligation:	2022
Balance of 2022 Corporate Restructuring Plan accrual at January 1,	$	—
Charges for employee severance, benefits and other costs	3,592
Payments	(2,910)
Other adjustments	(247)
Balance of 2022 Corporate Restructuring Plan accrual at December 31,	$	435

The 2022 Corporate Restructuring Plan liabilities of $435 are included in the consolidated balance sheet in accrued expenses at December 31, 2022.

2019 French Restructuring

During the second quarter of 2019, the Company initiated a plan to discontinue all French business activities, which resulted in the redundancy and reduction of its entire workforce at its Vénissieux, France site and the cessation of all business activities there (“2019 French Restructuring”). This reduction was part of an effort to align the Company’s cost structure with its ongoing and future planned projects. The discontinuation of business activities and elimination of the workforce in France was completed during the year ended December 31, 2020. Restructuring charges associated with this plan recognized during the years ended December 31, 2022 and 2021 were immaterial. The Company does not expect to incur any additional expenses related to the 2019 French Restructuring. The following table sets forth activities for the Company’s cost reduction plan obligations for the years ended December 31, 2022 and 2021:

2019 French Restructuring Obligation:	2022		2021
Balance of restructuring accrual at January 1,	$	41	$	248
(Benefit) charges for employee severance, benefits and other costs	—		(122)
Payments	—		(77)
Foreign currency impact	(3)		(8)
Balance of restructuring accrual at December 31,	$	38	$	41

The 2019 French Restructuring liability of $38 is included in the consolidated balance sheet in accrued expenses at December 31, 2022.