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Subsequent Events
6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
The Company has evaluated events from June 30, 2024 through August 8, 2024, the date these financial statements were issued.
On August 7, 2024, the Board of Directors of the Company approved a reduction in force that is designed to reduce operating costs and results in the termination of approximately 11% of the Company’s workforce, or approximately 100 employees. The Company expects the reduction in force to be substantially complete by the third quarter of 2024.
The Company expects to incur total costs associated with the reduction in force of up to $7 million, pre-tax, primarily one-time employee termination and related costs in cash. The Company expects the majority of the employee termination costs to be incurred in the third quarter of 2024.