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RESTRUCTURING
 12 Months Ended
Dec. 31, 2023
Restructuring and Related Activities [Abstract]  
RESTRUCTURING RESTRUCTURING
During the years ended December 31, 2023 and 2022, the Company initiated workforce reductions to realign its capacity with volume expectations, streamline the organization and focus its investments to support its growth plans, re-scale the business, and improve costs.
In the fourth quarter of 2023, the Company initiated two workforce reductions, impacting 120 employees, representing approximately 6% of the Company’s workforce at that time. The Company will provide severance and other termination benefits (“Post-Employment Benefits”) to impacted employees for an expected total expense of approximately $4 million, of which $1 million was paid out through December 31, 2023.
On April 18, 2023, the Company announced a workforce reduction of approximately 560 employees, representing approximately 22% of the Company’s workforce at that time and primarily impacting volume-based roles. The Company provided Post-Employment Benefits to impacted employees for a total expense of approximately $10 million. Payments related to this workforce reduction were substantially completed as of December 31, 2023.
In November 2022, the Company initiated a workforce reduction of 550 employees, which included: (i) reducing the Company’s headcount by 18% and (ii) winding down of our mortgage lending and brokerage services. The Company provided Post-Employment Benefits to impacted employees and incurred costs to wind down mortgage services for a total expense of $17 million. Payments related to this workforce reduction were substantially completed as of December 31, 2022.
These costs have been presented within the Restructuring costs line in the Company’s consolidated statement of operations. As of December 31, 2023, the remaining $3 million is included within Accounts payable and other accrued expenses in the Consolidated balance sheets.
The following table presents the activity of the restructuring liability (in millions):
Balance-December 31, 2021
— 
Additions charged to expense17 
Cash payments(13)
Balance-December 31, 20224 
Additions charged to expense14 
Cash payments(15)
Balance-December 31, 2023
$3