Restructuring and Exit Charges

12 Months Ended

Mar. 31, 2024

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND EXIT CHARGES

In February 2023, we announced and began implementing a restructuring plan that included a reduction in workforce and other exit costs.

The following table summarizes restructuring reserve activity during fiscal 2023 and 2024 (in thousands):


	Employee Severance and Benefits		Third-Party Costs		Total
Accrued liability as of March 31, 2022	$	—	$	—	$	—
Charges	1,657		892		2,549
Payments	(547)		(769)		(1,316)
Accrued liability as of March 31, 2023	1,110		123		1,233
Charges	1,480		10,630		12,110
Payments	(1,110)		(9,203)		(10,313)
Accrued liability as of March 31, 2024	$	1,480	$	1,550	$	3,030

The charges incurred due to the restructuring plan are included within Restructuring and exit charges in the Consolidated Statements of Operations and the accrued charges are included in Accrued Liabilities on our Consolidated Balance Sheets. Accrued employee severance is primarily related to obligations to employees at our Swiss subsidiary, while third party costs represent consulting and professional services incurred after we filed petitions for Bankruptcy on March 4, 2024.