Restructuring and Related Activities

6 Months Ended

Jun. 30, 2025

Restructuring and Related Activities [Abstract]

In 2022, the Company initiated a global cost and optimization program to improve its cost structure and drive a more profitable and productive organization. As of June 30, 2025, the program included restructuring and associated severance costs to reduce headcount by approximately 380 positions globally. These actions are expected to be substantially complete by the end of 2025.

Employee separation benefits vary depending on local regulations across countries. The timing to finalize costs associated with all actions will depend on a number of factors and is subject to change. In addition to the global cost and optimization program described above, the Company continues to take actions to optimize its facility footprint. Restructuring costs incurred during the three and six months ended June 30, 2025 and 2024 include employee severance and asset-related and facility closure costs, including non-cash asset write-offs, which are recorded in Restructuring and related charges, net in the Company’s Condensed Consolidated Statements of Operations.

Activity in the Company’s accrual for its restructuring program and facility closure actions are as follows:


Accrued restructuring as of December 31, 2024	$	2,297
Severance costs	20,922
Asset-related and facility closure charges	2,461
Cash payments	(15,946)
Reductions against the reserve	(2,204)
Currency translation adjustments	116
Accrued restructuring as of June 30, 2025	$	7,646

During the six months ended June 30, 2025, the Company completed the sale of certain property previously classified as held for sale for a gain of $2.2 million, which is recorded in Other (expense) income, net in the Company’s Condensed Consolidated Statements of Operations.