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RESTRUCTURING AND OTHER EXIT ACTIVITIES
 3 Months Ended
Mar. 31, 2024
Restructuring and Related Activities [Abstract]  
RESTRUCTURING AND OTHER EXIT ACTIVITIES
NOTE 17:     RESTRUCTURING AND OTHER EXIT ACTIVITIES
 
On January 21, 2024, the Company announced the adoption of a restructuring plan in response to challenging industry conditions (the “Restructuring Plan”). Under the Restructuring Plan, the Company reduced its headcount by approximately 16% over the first half of 2024 through an involuntary workforce reduction plan. The adoption of the Restructuring Plan follows the Company’s previous measures taken to align with current market conditions, including termination of manufacturing in Mexico, reduction of manufacturing capacity in China, and discontinuation of the Company’s light commercial vehicle e-mobility activity.
 
Restructuring and other exit charges for the three months ended March 31, 2024 by segment and type of cost were as follows:
 
   
Solar
    
e-Mobility
        
   
Employee termination costs
    
Contract termination and other
    
Employee termination costs
    
Inventory write-down
    
Total
  
Cost of revenues
  
$
807
    
$
5,015
    
$
(200
)
  
$
(234
)
  
$
5,388
  
Research and development
    
2,913
      
-
      
-
      
-
      
2,913
  
Sales and marketing
    
645
      
-
      
(4
)
    
-
      
641
  
General and administrative
    
385
      
-
      
(43
)
    
-
      
342
  
Total
  
$
4,750
    
$
5,015
    
$
(247
)
  
$
(234
)
  
$
9,284
  
 
The Company’s liability balance for the restructuring and other exit charges is as follows:
 
   
Employee termination costs
    
Inventory write-down 1
    
Contract termination and other
  
Balance as of December 31, 2023
  
$
2,373
    
$
27,774
    
$
30,393
  
Charges
    
4,503
      
(234
)
    
5,015
  
Cash payments
    
(6,548
)
    
-
      
(10,468
)
Non-cash utilization and other
    
(9
)
    
(3,133
)
    
(178
)
                         
Balance as of March 31, 2024
  
$
319
    
$
24,407
    
$
24,762
  
 
1 Inventory write-down is included under Inventories, net on the balance sheet.
 
The total amount expected to be incurred for restructuring and other exit charges, which primarily consists of contract terminations related to the Solar segment, is $5,497.