Restructuring Charges

3 Months Ended

Apr. 04, 2021

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring Charges

On May 26, 2020, the Company's Board of Directors approved a restructuring plan intended to reduce the Company's operating costs, optimize its business model, and address the impact of the COVID-19 pandemic. The restructuring plan included a global workforce reduction of approximately 8% and office closures.

As of December 31, 2020, the majority of these actions were completed and no additional charges are expected to be incurred in future periods in relation to this restructuring plan. There were no restructuring charges recognized during the three-month period ended April 4, 2021.

The following table summarizes the activity in the Company’s restructuring reserve, which is included in “Accrued expenses” on the Consolidated Balance Sheets (in thousands):

	One-time Termination Benefits		Contract Termination Costs		Other Associated Costs		Total
Balance as of December 31, 2020	$	1,624	$	750	$	15	$	2,389
Cash payments	(951)		(68)		(15)		(1,034)
Foreign exchange rate changes	(1)		(4)		—		(5)
Balance as of April 4, 2021	$	672	$	678	$	—	$	1,350