In January 2025, the Company eliminated approximately 100 positions to align our services capacity with customer demand which has been impacted by short-term macro-economic uncertainty. The Company recorded restructuring expense of approximately $2.9 million pretax ($2.2 million after-tax or $0.04 per fully diluted share) in the six months ended June 30, 2025 to the Americas segment. The expense primarily consists of employee severance and outplacement services. The expense is classified in “Restructuring expense” in the Company’s Consolidated Statements of Income for the six months ended June 30, 2025.

The following table summarizes the activity in the restructuring accrual for the six months ended June 30, 2025 (in thousands):


Restructuring expense	$	2,937
Cash payments		(2,907	)
Restructuring accrual balance at June 30, 2025	$	30

The balance at June 30, 2025 is included in “Accrued compensation and benefits” in the Company’s Condensed Consolidated Balance Sheets. The remaining balance is expected to be paid during the third quarter of 2025.