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Restructuring Activities
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring Activities Restructuring Activities
No significant restructuring activities occurred in the year ended December 31, 2024.
In February 2023, the Company announced a workforce reduction plan (the “February 2023 Plan”) that was designed to reduce operating costs, improve operating margins and accelerate profitability. The February 2023 Plan eliminated approximately 17% of the Company’s workforce. The execution of the February 2023 Plan was substantially completed in the first quarter of 2023. For the year ended December 31, 2023, restructuring charges related to the February 2023 Plan were $141.1 million, which consisted of $130.0 million related to employee severance, benefits and facilitation costs, and $11.1 million related to vesting of employee stock based compensation awards. $108.9 million of the restructuring charges related to the Communications reportable segment, $9.4 million related to the Segment reportable segment and $22.8 million was included in corporate costs.
The following table summarizes the Company’s restructuring liability related to the February 2023 Plan that is included in accrued expenses and other current liabilities in the accompanying consolidated balance sheet as of December 31, 2023:
Workforce Reduction CostsFacilitation CostsTotal
(In thousands)
Balance as of December 31, 2022$— $— $— 
Restructuring charges120,711 9,289 130,000 
Cash payments(111,852)(8,895)(120,747)
Balance as of December 31, 2023$8,859 $394 $9,253 
February 2023 Plan restructuring charges incurred in 2024 were not significant. No amounts were outstanding as of December 31, 2024 related to this plan.
In December 2023, the Company announced a workforce restructuring plan that was designed to streamline operations and accelerate the Company’s path to profitable growth (the “December 2023 Plan”). The December 2023 Plan eliminated approximately 5% of the Company’s workforce. Restructuring charges related to the December 2023 Plan were not significant.
In September 2022, the Company announced a workforce restructuring plan that was designed to reduce operating costs and improve operating margins (the “September 2022 Plan”). The September 2022 Plan eliminated approximately 11% of the Company’s workforce. In the year ended December 31, 2022, the Company recorded $76.6 million of restructuring charges, including a $14.3 million expense related to vesting of the employee stock-based compensation awards, in its accompanying consolidated statement of operations. $67.4 million of the restructuring charges related to the Communications reportable segment, $1.6 million related to the Segment reportable segment and $7.6 million was included in corporate costs.