RESTRUCTURING PLAN

3 Months Ended

Mar. 31, 2023

Restructuring and Related Activities [Abstract]

In July 2022, the Board approved a restructuring plan (the "2022 restructuring plan") as part of its efforts to reduce the Company’s costs and drive long-term operational efficiencies due to challenging macroeconomic pressures. As part of the 2022 restructuring plan, the Company eliminated approximately 14% of its global headcount, suspended operations of Traeger Provisions (the Company's premium frozen meal kit business), and postponed nearshoring efforts to manufacture product in Mexico. These actions were substantially completed in the third quarter of fiscal 2022.

A summary of the activity in the restructuring reserve in connection with the Company's 2022 restructuring plan recorded in accrued expenses within the accompanying condensed consolidated balance sheets as follows (in thousands):


	Employee Related Costs		Contract Exit Costs
Balance at December 31, 2022	$	135	$	2,953
Net additions charged to expense	—		—
Cash payments against reserve	(116)		(2,673)
Balance at March 31, 2023	$	19	$	280