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Restructuring Charges, Net | 9 Months Ended
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Jan. 31, 2016
Restructuring Charges, Net |
7. | Restructuring Charges, Net
During the third quarter of fiscal 2016, the Company implemented a restructuring plan in order to rationalize its cost structure by eliminating redundant positions and consolidating office space due to the acquisition of Legacy Hay on December 1, 2015. This resulted in restructuring charges, net of $30.6 million in the three and nine months ended January 31, 2016, of which $29.9 million relates to severance and $0.7 million, relates to consolidation and abandonment of premises. Changes in the restructuring liability during the three months ended January 31, 2016 are as follows:
|  | Severance |  |  | Facilities |  |  | Total |
|  | (in thousands) |
Liability as of October 31, 2015 |  | $ | 156 |  |  | $ | 509 |  |  | $ | 665 |
Restructuring charges, net |  |  | 29,877 |  |  |  | 700 |  |  |  | 30,577 |
Reductions for cash payments |  |  | (7,962 | ) |  |  | (91 | ) |  |  | (8,053 | )
Non-cash items |  |  | (1,690 | ) |  |  | — |  |  |  | (1,690 | )
Exchange rate fluctuations |  |  | (119 | ) |  |  | (60 | ) |  |  | (179 | )
Liability as of January 31, 2016 |  | $ | 20,262 |  |  | $ | 1,058 |  |  | $ | 21,320 |
Changes in the restructuring liability during the nine months ended January 31, 2016 are as follows:
|  | Severance |  |  | Facilities |  |  | Total |
|  | (in thousands) |
Liability as of April 30, 2015 |  | $ | 375 |  |  | $ | 771 |  |  | $ | 1,146 |
Restructuring charges, net |  |  | 29,877 |  |  |  | 700 |  |  |  | 30,577 |
Reductions for cash payments |  |  | (8,176 | ) |  |  | (339 | ) |  |  | (8,515 | )
Non-cash items |  |  | (1,690 | ) |  |  | — |  |  |  | (1,690 | )
Exchange rate fluctuations |  |  | (124 | ) |  |  | (74 | ) |  |  | (198 | )
Liability as of January 31, 2016 |  | $ | 20,262 |  |  | $ | 1,058 |  |  | $ | 21,320 |
As of January 31, 2016 and April 30, 2015, the restructuring liability is included in the current portion of other accrued liabilities on the consolidated balance sheets, except for $0.6 million and $0.3 million, respectively, which are included in other long-term liabilities. The restructuring liability by segment is summarized below:
|  | January 31, 2016 |
|  | Severance |  |  | Facilities |  |  | Total |
|  | (in thousands) |
Executive Recruitment |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 427 |  |  | $ | 19 |  |  | $ | 446 |
Europe, Middle East and Africa (“EMEA”) |  |  | 3,664 |  |  |  | 196 |  |  |  | 3,860 |
Asia Pacific |  |  | 421 |  |  |  | — |  |  |  | 421 |
South America |  |  | 186 |  |  |  | — |  |  |  | 186 |
Total Executive Recruitment |  |  | 4,698 |  |  |  | 215 |  |  |  | 4,913 |
Hay Group |  |  | 15,431 |  |  |  | 721 |  |  |  | 16,152 |
Futurestep |  |  | 51 |  |  |  | 122 |  |  |  | 173 |
Corporate |  |  | 82 |  |  |  | — |  |  |  | 82 |
Liability as of January 31, 2016 |  | $ | 20,262 |  |  | $ | 1,058 |  |  | $ | 21,320 |
|  | April 30, 2015 |
|  | Severance |  |  | Facilities |  |  | Total |
|  | (in thousands) |
Executive Recruitment |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 51 |  |  | $ | — |  |  | $ | 51 |
EMEA |  |  | 210 |  |  |  | 212 |  |  |  | 422 |
Total Executive Recruitment |  |  | 261 |  |  |  | 212 |  |  |  | 473 |
Hay Group |  |  | 58 |  |  |  | 320 |  |  |  | 378 |
Futurestep |  |  | 52 |  |  |  | 239 |  |  |  | 291 |
Corporate |  |  | 4 |  |  |  | — |  |  |  | 4 |
Liability as of April 30, 2015 |  | $ | 375 |  |  | $ | 771 |  |  | $ | 1,146 |

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 + Details
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