RESTRUCTURING EXPENSE |
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| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RESTRUCTURING EXPENSE | RESTRUCTURING EXPENSE The Company has been reviewing, planning and implementing various strategic initiatives targeted principally at reducing costs, enhancing organizational efficiency and optimizing its business model. As part of this process, the Company recorded a restructuring charge of approximately $nil and $3,843 related to asset write off, severance, and other related costs for the three months ended March 31, 2023 and 2022, respectively.
Our restructuring charges are comprised primarily of costs related to asset abandonment, including future lease commitments, and employee termination costs related to headcount reductions.
The following table summarizes the activities related to the restructuring program for the three months ended March 31, 2023:
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- References No definition available.
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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. No definition available.
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