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Restructuring Costs | 6 Months Ended
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Jun. 28, 2025
Restructuring and Related Activities [Abstract] |
Restructuring Costs | Restructuring Costs In the fourth quarter of 2023, the Company initiated cost reduction actions to reduce operating expenses and accelerate gross margin initiatives, and recognized $33.8 million of restructuring costs through December 28, 2024. The Company has incurred an additional $8.4 million and of restructuring costs during the six months ended June 28, 2025. Charges incurred related to this initiative were comprised of contract termination costs, severance and employee-related benefits, professional fees and other, and asset impairment charges and are included in the restructuring costs line in the Company’s condensed consolidated statement of operations. The Company expects approximately $8 million of additional restructuring costs to be incurred through the remainder of 2025, primarily due to severance and employee- related benefits, contract termination costs, and asset impairment charges. The following table provides a summary of the Company’s restructuring costs during the three and six months ended June 28, 2025 and June 29, 2024 (in thousands):
| Three Months Ended |  | Six Months Ended
| June 28, 2025 |  | June 29, 2024 |  | June 28, 2025 |  | June 29, 2024
Cash restructuring costs: |  |  |  |  |  |  |
Contract termination costs (1) | $1,409 |  | $(230) |  | $1,295 |  | $4,183
Severance and employee-related benefits | 6,335 |  | 401 |  | 6,492 |  | 1,242
Professional fees and other | — |  | 1,648 |  | 17 |  | 4,494
Total cash restructuring costs | 7,744 |  | 1,819 |  | 7,804 |  | 9,919
Non-cash restructuring costs: |  |  |  |  |  |  |
Asset impairments (2) | 588 |  | — |  | 588 |  | 2,500
Total restructuring costs | $8,332 |  | $1,819 |  | $8,392 |  | $12,419
____________________ (1) Primarily comprised of lease termination costs and includes changes in estimate. (2) Primarily comprised of impairments of property and equipment. The following table provides the activity in the Company’s restructuring related liabilities, which are included within accounts payable, compensation and benefits and other current liabilities on the condensed consolidated balance sheet (in thousands):
| June 28, 2025 |  | December 28, 2024
Balance at the beginning of year | $3,341 |  | $8,720
Expenses | 7,804 |  | 14,888
Cash payments | (7,973) |  | (20,267)
Balance at the end of the period | $3,172 |  | $3,341
Since the initiation of cost reduction actions in the fourth quarter of 2023, the Company has recognized a cumulative $42.2 million of restructuring costs, as follows (in thousands):
|  | Cumulative
|  | June 28, 2025
Cash restructuring costs: |  |
Contract termination costs (1) |  | $15,732
Severance and employee-related benefits |  | 14,685
Professional fees and other |  | 5,761
Total cash restructuring costs |  | 36,178
Non-cash restructuring costs: |  |
Asset impairments (2) |  | 6,008
Total restructuring costs |  | $42,186
____________________ (1)Primarily comprised of lease termination costs. (2) Includes impairments of both lease right-of-use assets and property and equipment.

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