In 2024, we incurred $9.9 million of restructuring charges, of which $1.3 million related to the divestiture of our Studer Education practice. On December 31, 2024, we completed the divestiture of our Studer Education practice and recognized a $3.6 million pretax gain which is included within other income (expense), net on our consolidated statement of operations.

Employee costs - We incurred $3.3 million of severance-related restructuring expense, of which $2.3 million related to strategic workforce adjustments to better align our resources with market demand and $1.0 million related to transaction-related employee payments made in connection with the divestiture of our Studer Education practice.

Office space reductions - We incurred $6.2 million of restructuring expense related to office space reductions. During 2024, we exited our office space previously occupied by GG+A and a portion of our office space in New York, New York resulting in non-cash impairment charges of $1.4 million and $1.2 million, respectively, on the related right-of-use operating lease assets and fixed assets. Additionally, we exited the remaining portion of our office space in Denver, Colorado resulting in $0.5 million of accelerated depreciation and amortization on the related

fixed assets and right-of-use operating lease assets we abandoned. We also incurred $2.3 million of restructuring charges for rent and related expenses, net of sublease income, for previously vacated office spaces and $0.8 million related to non-cash lease impairment charges driven by updated sublease assumptions for our previously vacated office spaces.

Other - We incurred $0.3 million of other restructuring charges related to third-party legal and professional advisory fees incurred in connection with the divestiture of our Studer Education practice.

Of the total $9.9 million restructuring charge, $7.6 million was recognized in our corporate operations, $1.3 million was recognized in our Healthcare segment, $0.6 million was recognized in our Commercial segment, and $0.4 million was recognized in our Education segment.

Employee costs - We incurred $3.0 million of severance-related restructuring expense as a result of strategic workforce adjustments to better align our resources with market demand.

Office space reductions - We incurred $8.1 million of restructuring expense related to office space reductions. During 2023, we exited our office spaces in Hillsboro, Oregon and Lexington, Massachusetts, resulting in non-cash impairment charges of $1.9 million and $3.5 million , respectively, on the related operating lease ROU assets and fixed assets. Additionally, in 2023, we recognized $1.8 million for rent and related expenses, net of sublease income, for previously vacated office spaces and $0.9 million related to non-cash lease impairment charges driven by updated sublease assumptions for previously vacated office spaces.

Other - We incurred $0.5 million of other restructuring charges, which primarily related to the abandonment of a capitalized software development project.

Of the total $11.6 million restructuring charge, $8.2 million was recognized in our corporate operations, $2.0 million was recognized in our Commercial segment, $1.3 million was recognized in our Healthcare segment, and $0.1 million was recognized in our Education segment.

Employee costs - We incurred $5.7 million of severance-related restructuring expense as a result of strategic workforce adjustments to better align our resources with market demand.

Office space reductions - We incurred $2.5 million of restructuring expense related to office space reductions, of which $2.3 million related to rent and related expenses, net of sublease income, for previously vacated office spaces and $0.2 million related to a non-cash lease impairment charge driven by updated sublease assumptions for a previously vacated office space.

Other - We incurred $1.7 million of other restructuring charges, of which $0.7 million related to third-party professional advisory fees related to the modification of our operating model, $0.6 million related to the early termination of a contract, $0.3 million related to accelerated amortization of capitalized software implementation costs for a cloud-computing arrangement that is no longer in use, and $0.1 million related to the divestiture of our Life Sciences business in the fourth quarter of 2021.

Of the total $9.9 million restructuring charge, $3.9 million was recognized in our Education segment, $3.7 million was recognized in our corporate operations, $1.6 million was recognized in our Commercial segment, and $0.7 million was recognized in our Healthcare segment.

The table below sets forth the changes in the carrying amount of our restructuring charge liability by restructuring type for the years ended December 31, 2024 and 2023.


	Employee Costs		Other		Total





Balance as of December 31, 2022	$	3,751	$	568	$	4,319
Additions(1)	2,991		—		2,991
Payments	(5,376)		(74)		(5,450)
Adjustments(1)	—		41		41
Balance as of December 31, 2023	1,366		535		1,901
Additions(1)	2,864		355		3,219
Payments	(3,601)		(335)		(3,936)
Adjustments(1)	—		13		13
Balance as of December 31, 2024	$	629	$	568	$	1,197

(1)Additions and adjustments exclude non-cash items related to vacated office spaces, such as lease impairment charges and accelerated depreciation on abandoned operating lease ROU assets and fixed assets, which are recorded as restructuring charges on our consolidated statements of operations.

All of the $0.6 million restructuring charge liability related to employee costs at December 31, 2024 is expected to be paid in the next 12 months and is included as a component of accrued payroll and related benefits in our consolidated balance sheet. All of the $0.6 million other restructuring charge liability at December 31, 2024, which primarily relates to the early termination of a contract in a prior period, is expected to be paid in the next 12 months and is included as a component of accrued expenses and other current liabilities in our consolidated balance sheet.