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Restructuring

12 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

During fiscal 2024, as part of a strategic review of organizational structure and operations, the Company executed a cost reduction and restructuring program to align our cost structure with demand expectations in our hardware business. These actions are expected to result in approximately $10.0 million in annualized savings in selling, general and administrative expenses.

The following table presents the restructuring and employee separation costs incurred for the fiscal year ended ended June 30, 2024:

												Fiscal Year Ended June 30, 2024
												(in thousands)
Employee separation and benefit costs												$	4,358

For the fiscal year ended June 30, 2024, all restructuring costs are recognized in the Corporate reporting unit and have not been allocated to the Specialty Technology Solutions or Modern Communications & Cloud segments.

Accrued restructuring costs are included in accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets. The following table represents activity for the fiscal year ended June 30, 2024:

			Accrued Expenses
			(in thousands)
Balance at June 30, 2023			$	—
Charged to expense			4,358
Cash payments			(2,729)
Balance at June 30, 2024			$	1,629

The remaining balance as of June 30, 2024 of $1.6 million is expected to be paid through the third quarter of fiscal year 2025.

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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.

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