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Restructuring Charges, Net | 6 Months Ended
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Oct. 31, 2023
Restructuring Charges [Abstract] |
Restructuring Charges, Net | Restructuring Charges, Net In light of the challenging macroeconomic business environment arising from persistent inflationary pressures, rising interest rates and global economic and geopolitical uncertainty, on October 23, 2023, the Company initiated a plan (the “Plan”) intended to align its workforce with its current business realities through position eliminations. Due to the implementation of the Plan, the Company recorded restructuring charges of $63.5 million in the three months ended October 31, 2023 across all lines of business related to severance for positions that were eliminated. During the six months ended October 31, 2023, the Company also made adjustments to previously recorded restructuring accruals resulting in additional restructuring charges of $0.4 million. There were no restructuring charges for the three and six months ended October 31, 2022. Changes in the restructuring liability during the three months ended October 31, 2023 were as follows:
| Restructuring Liability
| (in thousands)
As of July 31, 2023 | $ | 4,300 |
Restructuring charges, net | 63,525 |
Reductions for cash payments | (3,608) |
Reductions for non-cash payments | (15,421) |
Exchange rate fluctuations | (143) |
As of October 31, 2023 | $ | 48,653 |
Changes in the restructuring liability during the six months ended October 31, 2023 were as follows:
| Restructuring Liability
| (in thousands)
As of April 30, 2023 | $ | 8,004 |
Restructuring charges, net | 63,946 |
Reductions for cash payments | (7,717) |
Reductions for non-cash payments | (15,421) |
Exchange rate fluctuations | (159) |
As of October 31, 2023 | $ | 48,653 |
As of October 31, 2023 and April 30, 2023, the restructuring liability is included in the current portion of other accrued liabilities on the consolidated balance sheets. Restructuring charges incurred by segment were as follows:
|  | October 31, 2023
|  | Three Months Ended |  | Six Months Ended
|  | (in thousands)
Consulting |  | $ | 17,571 |  |  | $ | 17,820 |
Digital |  | 8,851 |  |  | 8,851 |
Executive Search: |  |  |  |
North America |  | 7,427 |  |  | 7,427 |
EMEA |  | 16,238 |  |  | 16,410 |
Asia Pacific |  | 1,963 |  |  | 1,963 |
Latin America |  | 110 |  |  | 110 |
Professional Search & Interim |  | 3,778 |  |  | 3,778 |
RPO |  | 7,195 |  |  | 7,195 |
Corporate |  | 392 |  |  | 392 |
Consolidated |  | $ | 63,525 |  |  | $ | 63,946 |

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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/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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