The Company began a global restructuring program in fiscal year 2023, which aimed to enhance Wiley’s position and drive profitability (Global Restructuring Program) which was expanded in fiscal year 2024. This program included severance related charges for the elimination of certain positions, the exit of certain leased office space, and the reduction of our occupancy at other facilities. Under this program, we reduced our real estate square footage occupancy by approximately 35%.

In the fourth quarter of fiscal year 2025, the program was further extended due to the completion of our divestitures with a focus on optimizing our cost structure, with particular emphasis on aligning our technology costs and other corporate expenses. As a result of these initiatives, this expanded program includes severance related charges, facility-related costs associated with certain properties, and other activities.


	Three Months Ended July 31,				Total Charges Incurred to Date
	2025		2024
Charges (Credits) by Segment:
Research	$	252	$	2,323	$	20,122
Learning	124		227		20,891
Held for Sale or Sold	—		(242)		12,995
Corporate Expenses	2,683		5,241		88,834
Total Restructuring and Related Charges	$	3,059	$	7,549	$	142,842

Charges (Credits) by Activity:
Severance and termination benefits	$	1,962	$	5,782	$	76,941
Impairment of operating lease ROU assets and property and equipment	—		—		23,395
Acceleration of expense related to operating lease ROU assets, technology, property and equipment, and intangible assets	—		—		8,074
Facility related charges, net	992		1,402		13,645
Consulting costs (credits)	62		(556)		11,971
Other activities	43		921		8,816
Total Restructuring and Related Charges	$	3,059	$	7,549	$	142,842

The severance related charges are for certain employees affected by the reduction in force under this program who are entitled to severance payments and certain termination benefits.

In the three months ended July 31, 2025 we incurred ongoing facility-related costs associated with certain properties, consulting costs, and other costs for other activities, which includes other employee related costs. In the three months ended July 31, 2024 we incurred ongoing facility-related costs associated with certain properties, consulting credits, and other costs for other activities, which includes relocation and other employee related costs. In the three months ended July 31, 2024 the credits in consulting costs are due to changes in the estimates for previously accrued costs.


	April 30, 2025		Charges		Payments		Foreign Translation & Other Adjustments		July 31, 2025
Severance and termination benefits	$	6,622	$	1,962	$	(4,198)	$	25	$	4,411
Consulting costs	927		62		(836)		—		153
Other activities	289		43		(31)		(2)		299
Total	$	7,838	$	2,067	$	(5,065)	$	23	$	4,863

Approximately $3.9 million of the restructuring liability for accrued severance and termination benefits is reflected in Accrued employment costs and approximately $0.5 million is reflected in Other long-term liabilities on our Unaudited Condensed Consolidated Statement of Financial Position. The liabilities for Consulting costs and Other activities are reflected in Other accrued liabilities on our Unaudited Condensed Consolidated Statement of Financial Position.

For the three months ended July 31, 2025 and 2024, we recorded net pretax restructuring credits of less than $(0.1) million and $(3.6) million, respectively, related to this program. The credits in the three months ended July 31, 2024 are primarily due to the termination of a portion of a lease that was previously impaired in our Corporate Expenses category. As of fiscal year 2023, we substantially completed this program and we have no restructuring liability outstanding. We currently anticipate immaterial ongoing facility charges and do not anticipate any further material charges related to the Business Optimization Program.