Restructuring Charges, Net

6 Months Ended

Oct. 31, 2014

7.	Restructuring Charges, Net

The Company took actions to rationalize its cost structure as a result of efficiencies obtained from prior year technology investments that enabled further integration of the legacy business and the recent acquisitions, as well as other cost saving initiatives. This resulted in restructuring charges of $9.9 million against operations in the six months ended October 31, 2014, of which $9.6 million relates to severance and $0.3 million relates to consolidation/abandonment of premises.

Changes in the restructuring liability during the three months ended October 31, 2014 are as follows:


	Severance			Facilities			Total
	(in thousands)
Liability as of July 31, 2014	$	6,182		$	2,462		$	8,644
Reductions for cash payments		(3,503	)		(672	)		(4,175	)
Exchange rate fluctuations		(234	)		(50	)		(284	)

Liability as of October 31, 2014	$	2,445		$	1,740		$	4,185

Changes in the restructuring liability during the six months ended October 31, 2014 are as follows:


	Severance			Facilities			Total
	(in thousands)
Liability as of April 30, 2014	$	—		$	2,813		$	2,813
Restructuring charges, net		9,571			315			9,886
Reductions for cash payments		(6,835	)		(1,344	)		(8,179	)
Exchange rate fluctuations		(291	)		(44	)		(335	)

Liability as of October 31, 2014	$	2,445		$	1,740		$	4,185

As of October 31, 2014 and April 30, 2014, the restructuring liability is included in the current portion of other accrued liabilities on the consolidated balance sheets, except for $0.5 million and $0.7 million, respectively, of facilities costs which primarily relate to commitments under operating leases, net of sublease income, which are included in other long-term liabilities and will be paid over the next four years.

The restructuring liability by segment is summarized below:


	October 31, 2014
	Severance		Facilities		Total
	(in thousands)
Executive Recruitment
North America	$	344	$	—	$	344
Europe, Middle East and Africa (“EMEA”)		1,407		427		1,834
South America		143		—		143

Total Executive Recruitment		1,894		427		2,321
LTC		109		900		1,009
Futurestep		433		413		846
Corporate		9		—		9

Liability as of October 31, 2014	$	2,445	$	1,740	$	4,185


	April 30, 2014
	Severance		Facilities		Total
	(in thousands)
Executive Recruitment
North America	$	—	$	193	$	193
EMEA		—		379		379

Total Executive Recruitment		—		572		572
LTC		—		1,587		1,587
Futurestep		—		654		654

Liability as of April 30, 2014	$	—	$	2,813	$	2,813

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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