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RESTRUCTURING

6 Months Ended

Jun. 30, 2023

In the fourth quarter 2022, the Company’s management approved and commenced a restructuring plan aimed to realign the Company’s business and strategic priorities. This worldwide restructuring plan included a reduction in the number of full-time employees, as well as a reduction in leased workspaces and engagement of consultants for strategic support.

The Company incurred $19 million and $24 million of restructuring costs during the three and six months ended June 30, 2023, respectively. These costs are included in restructuring expenses in the Company’s consolidated statements of operations.

The changes to the restructuring provisions recorded on the consolidated statements of financial position as of June 30, 2023, are summarized as follows:


(in millions)	2023
Beginning balance as of December 31, 2022	$	86
Provision	24

Amounts paid	(80)

Ending balance as of June 30, 2023	$	30