2024 Restructuring Program: In 2024, the Company began a restructuring program (the “2024 Restructuring Program”) to drive our enterprise strategy and reduce our cost structure. The 2024 Restructuring Program will be executed in phases, focusing on waste reduction, reprioritizing our product and technology teams on fewer strategic initiatives, driving synergies across our portfolio of services, and unifying the go to market strategy of our divisions.

The major initiatives of the first phase, which commenced in the first quarter of 2024, include: 1) optimizing our management hierarchy, which includes a reduction in workforce; and 2) reprioritizing the efforts of our product and technology teams, resulting in the impairment of certain internally developed software projects. We have realigned our product and technology teams on fewer strategic initiatives to accelerate the capabilities of our platform to deliver market-leading outcomes for our customers, carriers, and employees.

The primary initiatives of the second phase commenced in the second quarter of 2024. These initiatives include the rationalization of our facilities footprint including the consolidation, early termination, or abandonment of office buildings under operating leases. We expect all activities under the 2024 Restructuring program to be completed by the end of 2024.

We recognized restructuring charges of $4.4 million in the third quarter of 2024 primarily related to workforce reductions. We anticipate recognizing an additional $10 million to $15 million of restructuring charges primarily related to the rationalization of our facilities footprint in the fourth quarter of 2024 to complete the 2024 Restructuring Program. The amount of restructuring charges we recognize will depend upon the nature and scope of initiatives we identify and our ability to enact changes to our real estate footprint under existing operating leases. We paid $17.8 million of cash related to the 2024 Restructuring Program in the nine months ended September 30, 2024.


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024		2024
Severance(1)	$	2,377	$	18,590
Other personnel expenses(1)	420		1,618
Other selling, general, and administrative expenses(2)	1,632		12,341
Total	$	4,429	$	32,549

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(2) Amounts are included within other selling, general, and administrative expenses in our condensed consolidated statements of operations and comprehensive income. The charges recognized in the three months ended September 30, 2024, primarily resulted from the second phase of the 2024 Restructuring Program while the charges recognized in the nine months ended September 30, 2024, also include initiatives under the first phase of the 2024 Restructuring Program as discussed above.


	Three Months Ended September 30, 2024
	NAST		Global Forwarding		All Other and Corporate		Consolidated
Personnel expenses	$	1,238	$	461	$	1,098	$	2,797
Other selling, general, and administrative expenses	560		855		217		1,632


	Nine Months Ended September 30, 2024
	NAST		Global Forwarding		All Other and Corporate		Consolidated
Personnel expenses	$	9,022	$	5,855	$	5,331	$	20,208
Other selling, general, and administrative expenses	6,214		2,413		3,714		12,341

The following table summarizes activity related to our 2024 Restructuring Program and reserves included in our consolidated balance sheets (in thousands):


	Accrued Severance and Other Personnel Expenses		Accrued Other Selling, General, and Administrative Expenses		Total
Balance, December 31, 2023	$	—	$	—	$	—
Restructuring charges	20,208		12,341		32,549
Cash payments	(16,046)		(1,727)		(17,773)
Settled non-cash	—		(10,599)		(10,599)
Accrual adjustments(1)	(705)		(15)		(720)
Balance, September 30, 2024	$	3,457	$	—	$	3,457

(1) Accrual adjustments primarily relate to changes in estimates for certain employee termination costs, including those settling for an amount different than originally estimated and foreign currency adjustments.

2022 Restructuring Program: In 2022, we announced organizational changes to support our enterprise strategy of accelerating our digital transformation and productivity initiatives. The initiatives under our 2022 Restructuring Program were completed in 2023. We paid $3.3 million of cash related to the 2022 Restructuring Program in the nine months ended September 30, 2024. There is no further activity expected related to the 2022 Restructuring Program other than settling the remaining $0.3 million of accrued severance and other personnel expenses as of September 30, 2024.


	Three Months Ended September 30,		Nine Months Ended September 30,
	2023		2023
Severance(1)	$	(265)	$	14,554
Other personnel expenses(1)	(67)		1,839
Other selling, general, and administrative expenses(2)	193		1,322
Total	$	(139)	$	17,715

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(1) Amounts are included within personnel expenses in our condensed consolidated statements of operations and comprehensive income. Amounts recognized in the three months ended September 30, 3023, primarily relate to accrual adjustments for amounts settling for an amount different than originally estimated.

(2) Amounts are included within other selling, general, and administrative expenses in our condensed consolidated statements of operations and comprehensive income.


	Three Months Ended September 30, 2023
	NAST		Global Forwarding		All Other and Corporate		Consolidated
Personnel expenses	$	(73)	$	(87)	$	(172)	$	(332)
Other selling, general, and administrative expenses	4		67		122		193


	Nine Months Ended September 30, 2023
	NAST		Global Forwarding		All Other and Corporate		Consolidated
Personnel expenses	$	1,083	$	2,142	$	13,168	$	16,393
Other selling, general, and administrative expenses	8		230		1,084		1,322

The following table summarizes activity related to our 2022 Restructuring Program and reserves included in our consolidated balance sheets (in thousands):


	Accrued Severance and Other Personnel Expenses
Balance, December 31, 2023	$	3,783
Restructuring charges	12
Cash payments	(3,286)

Accrual adjustments(1)	(190)
Balance, September 30, 2024	$	319