RESTRUCTURING AND OTHER RELATED CHARGES

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND OTHER RELATED CHARGES

OTHER CHARGES

For the six months ended June 30, 2022, we incurred severance charges of $2.4 million, which represents costs incurred in 2022 as a result of ongoing cost reduction efforts.

In January 2021, we announced a new strategic organizational structure to better position ourselves for recovery post pandemic, continue sector diversification, and enhance client value (the “Operating Group Reorganization”). In connection with the Operating Group Reorganization, we announced certain executive leadership changes and the appointment of experienced new talent to our leadership team. For the twelve months ended December 31, 2021, we incurred severance charges of $2.9 million as a result of the Operating Group Reorganization.

A rollforward of our accrued severance liability associated with our ongoing cost reduction efforts is presented below (in thousands):

	Six Months Ended June 30, 2022
	(unaudited)
Balance, beginning of period	$	712
Charges	2,370
Payments	(866)
Balance, end of period	$	2,216