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Restructuring
6 Months Ended
Jun. 30, 2023
Restructuring And Related Activities [Abstract]  
Restructuring

NOTE 19 – RESTRUCTURING

During the first quarter of 2023, the Company initiated a reduction in its global workforce to better align our cost structure with lower automotive industry production levels. As a result, the Company recognized a restructuring charge of $5.3 million of separation costs, $2.8 million of which was charged to selling, general and administrative expenses and $2.5 million which was charged to cost of sales. During the second quarter of 2023, the Company incurred an additional charge of $2.5 million for separation costs which was charged to cost of sales. As of June 30, 2023, the Company had paid $1.9 million in separation costs, resulting in a remaining accrual of $5.9 million.