On February 8, 2023, we committed to a restructuring plan (the “Plan”) designed to manage our operating expenses in response to current macroeconomic conditions and ongoing business prioritization efforts. As part of the plan, we reduced our workforce by approximately 500 employees, representing approximately 19% of our employees and incurred lease exit

costs related to vacating a portion of our San Francisco office. Restructuring charges, net consists of employee severance pay and related costs and accelerations of amortization expense for the lease asset associated with the exit of certain of our office space.

For the three and nine months ended March 31, 2023, restructuring charges, net was comprised of the following (in thousands):


	March 31, 2023

Employee severance pay and related costs	$	28,753

Non-cash accelerations of depreciation and amortization expense (1)	6,181

Restructuring charges, net	$	34,934

(1)At March 31, 2023, we had a remaining right-of-use asset of $5.2 million related to the office closure that we expect to be fully amortized in the fourth quarter of fiscal 2023 upon fully vacating this space. For further information, refer to Note 7. Leases.

The Company’s restructuring accrual activity for the nine months ended March 31, 2023 is summarized as follows (in thousands):



Accrued restructuring costs, June 30, 2022	$	—
Additions	26,297
Cash paid	(25,642)
Adjustment	2,548
Foreign currency translation and other adjustments	(5)
Accrued restructuring costs, March 31, 2023	$	3,198