RESTRUCTURING

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING

12. RESTRUCTURING

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

(in thousands)	Three months ended	Expense
Employee severance and related benefits and office space reduction	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 office space reduction	September 30, 2023	$	17,236
Office space reduction	December 31, 2023	$	1,497

Restructuring activity:

Accrued employee severance and related benefits:

(in thousands)	2023
January 1,	$	18,573
Costs incurred	18,721
Cash disbursements	(29,401)
Currency translation adjustments	202
December 31,	$	8,095

Note: Included in accrued compensation and related expenses.

Office Space reductions

In 2023 and 2022, the Company incurred restructuring costs of $3.0 million and $3.2 million due to office space reductions.