On June 14, 2023, we completed a reduction of our workforce by approximately 11% to reorganize our business to better focus our investments on customer needs and to support long-term growth objectives (“Restructuring Plan”).

We incurred charges of $6.7 million in connection with the Restructuring Plan for the three and six months ended June 30, 2023, consisting of the following: $4.4 million related to severance expense and payroll taxes, $1.7 million related to stock-based compensation expense due to the acceleration of equity awards, and $0.6 million related to other employee benefits. These expenses are recorded within the restructuring charges line item in the condensed consolidated statement of operations.

The following table summarizes the restructuring liabilities, which are recorded in accrued expenses and other current liabilities on the condensed consolidated balance sheets, as of June 30, 2023 (in thousands):

The actions associated with the Restructuring Plan were fully completed during the three months ended June 30, 2023.