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Severance Expense
12 Months Ended
Jul. 31, 2018
Severance Expense [Abstract]  
Severance Expense

Note 13—Severance Expense

 

In fiscal 2018, the Company implemented an internal restructuring that reduced the Company’s global employee base in its IDT Telecom division and at the corporate level. In fiscal 2018, the Company recorded severance expense of $3.9 million related to this workforce reduction. Severance expense in fiscal 2018 also included $0.7 million unrelated to the workforce reduction. At July 31, 2018, the accrued severance expense balance for the workforce reduction was $2.1 million, which is included in “Accrued expenses” in the accompanying consolidated balance sheet.

 

In July 2016, the Company completed a reduction of its workforce and incurred severance expense of $6.3 million in fiscal 2016. Severance expense in fiscal 2016 also included $0.2 million unrelated to the July 2016 workforce reduction. At July 31, 2018 and 2017, there was accrued severance of $0.1 million and $0.3 million, respectively, included in “Accrued expenses” in the accompanying consolidated balance sheets for the July 2016 workforce reduction.