XML 27 R17.htm IDEA: XBRL DOCUMENT v3.23.2
Restructuring
6 Months Ended
Jun. 30, 2023
Restructuring and Related Activities [Abstract]  
Restructuring RestructuringIn June 2023, we announced a reduction in workforce to better position the Company to execute against its AI strategy and to create long-term, sustainable value for its students and investors. This resulted in a management approved restructuring plan that impacted approximately 90 employees primarily in the United States. During the three months ended June 30, 2023, we recorded restructuring charges of $5.7 million related to one-time employee termination benefits classified on our condensed consolidated statements of operations based on the employees' job function. As of June 30, 2023, $2.0 million in payments have been made and the $3.7 million liability is included within accrued liabilities on our condensed consolidated balance sheets. The total cost of the restructuring plan has been recorded and we expect it to be completed by the end of fiscal 2023. We expect cost savings from the restructuring plan to be reinvested in future growth opportunities.