Project Summit

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

PROJECT SUMMIT

In October 2019, we announced Project Summit, our global program designed to better position us for future growth and achievement of our strategic objectives. We expanded Project Summit during the first quarter of 2020 to include additional opportunities to streamline our business and operations, as well as accelerated the timing of certain opportunities previously identified. Such opportunities include leveraging new technology solutions to enable us to modernize our service delivery model and more efficiently utilize our fleet, labor and real estate. As a result of the program, we expect to reduce the number of positions at vice president and above by approximately 45%. The total program is expected to reduce our total managerial and administrative workforce by approximately 700 positions by the end of 2021. We have also reduced our services and operations workforce. As of December 31, 2020, we have completed approximately 70% of our planned workforce reductions. The activities associated with Project Summit began in the fourth quarter of 2019 and are expected to be substantially complete by the end of 2021.

We estimate that the implementation of Project Summit will result in total operating expenditures ("Restructuring Charges") of approximately $450,000 that primarily consist of: (1) employee severance costs; (2) internal costs associated with the development and implementation of Project Summit initiatives; (3) professional fees, primarily related to third party consultants who are assisting with the design and execution of various initiatives as well as project management activities and (4) system implementation and data conversion costs.

Restructuring Charges included in the accompanying Consolidated Statement of Operations for the years ended December 31, 2020 and 2019, and from the inception of Project Summit through December 31, 2020, are as follows:


	YEAR ENDED DECEMBER 31, 2020		YEAR ENDED DECEMBER 31, 2019		FROM THE INCEPTION OF PROJECT SUMMIT THROUGH DECEMBER 31, 2020
Employee severance costs	$	47,349	$	20,850	$	68,199
Professional fees and other costs	147,047		27,747		174,794
Restructuring Charges	$	194,396	$	48,597	$	242,993

12. PROJECT SUMMIT (CONTINUED)

Restructuring Charges included in the accompanying Consolidated Statement of Operations by segment for the years ended December 31, 2020 and 2019, and from inception of Project Summit through December 31, 2020, are as follows:


	YEAR ENDED DECEMBER 31, 2020		YEAR ENDED DECEMBER 31, 2019		FROM THE INCEPTION OF PROJECT SUMMIT THROUGH DECEMBER 31, 2020
Global RIM Business	$	67,140	$	21,900	$	89,040
Global Data Center Business	1,632		306		1,938
Corporate and Other Business	125,624		26,391		152,015
Restructuring Charges	$	194,396	$	48,597	$	242,993

A rollforward of the accrued Restructuring Charges, which is included as a component of Accrued expenses and other current liabilities in our Consolidated Balance Sheet for the year ended December 31, 2020 is as follows:


	EMPLOYEE SEVERANCE COSTS		PROFESSIONAL FEES AND OTHER		TOTAL ACCRUED RESTRUCTURING CHARGES
Inception of Project Summit	$	—	$	—	$	—
Amounts accrued	20,850		27,747		48,597
Payments	(16,027)		(14,793)		(30,820)
Other, including currency translation adjustments	—		—		—
Balance as of December 31, 2019	4,823		12,954		17,777
Amounts accrued	47,349		147,047		194,396
Payments	(32,455)		(136,222)		(168,677)
Other, including currency translation adjustments	(3,439)		(4)		(3,443)
Balance as of December 31, 2020	$	16,278	$	23,775	$	40,053