RESTRUCTURING

9 Months Ended

Sep. 30, 2023

NOTE 9. RESTRUCTURING

The Company has undertaken the following restructuring activities as it optimizes its go-to-market strategy and reassesses its office space needs:


	Three months ended	Expense
Employee severance and related benefits and closure of a US office	December 31, 2022	$	21,743
Office space reduction	March 31, 2023	$	1,241
Employee severance and related benefits	June 30, 2023	$	1,581
Employee severance and related benefits and closure of a foreign office	September 30, 2023	$	17,236

Accrued employee severance and related benefits:

Change for all restructuring actions:


	Nine Months Ended September 30,
(in thousands)	2023
January 1,	$	18,573
Costs incurred	19,921
Cash disbursements	(21,576)
Currency translation adjustments	(203)
September 30,	$	16,715

Note: Accrued employee severance and related benefits is included in accrued compensation and related expenses.