In second quarter of 2024, the Company initiated a strategic restructuring plan to align its workforce with market opportunities, business strategies and evolving customer needs. This plan was executed in the second quarter of 2024, which affected less than 1% of the Company’s global workforce.

The restructuring costs include costs in relation to employee severance and other associated costs including legal fees and outplacement support costs. These costs have been recognized under cost of revenues (across all reporting segments), general & administrative and selling & marketing expenses in the consolidated statements of income.

The following table summarizes the activity related to the restructuring costs incurred and paid during the year ended December 31, 2024:


	Year ended December 31, 2024
	Employee-Related Costs		Other Associated Costs		Total
Opening balance	$	—	$	—	$	—
Costs incurred during the period	4,397		365		4,762
Payments during the period	4,397		365		4,762
Closing balance	$	—	$	—	$	—