Severance and Other Restructuring Costs
|3 Months Ended|
Apr. 30, 2018
|Restructuring And Related Activities [Abstract]|
|Severance and Other Restructuring Costs||
During the three months ended April 30, 2018, we incurred some immaterial restructuring charges primarily for employee-related benefits for terminated employees.
The following table shows the activity in accrued restructuring reported as a component of other accrued expenses on the consolidated balance sheet as of April 30, 2018 (amounts in thousands):
During the third quarter of fiscal 2017, we implemented a restructuring program (“Restructuring Plan”) with the purpose of reducing costs and assisting in restoring SeaChange to profitability and positive cash flow. This program included measures intended to allow the Company to more efficiently operate in a leaner, more direct cost structure. These measures included reductions in workforce, consolidation of facilities, transfers of certain business processes to lower cost regions and reduction in third-party service costs. The Restructuring Plan was substantially complete as of January 31, 2018. However, we incurred a small charge for employee-related benefits during the first quarter of fiscal 2019 and reversed any remaining estimates to severance and other restructuring charges in our consolidated statements of operations and comprehensive loss in April 2018. Since its implementation, we recognized $7.1 million in restructuring charges related to the Restructuring Plan.
During the three months ended April 30, 2018, we incurred additional severance charges not related to a restructuring plan of $0.1 million, primarily from the departure of four employees. Severance costs during the three months ended April 30, 2017 were not material.
The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.
Reference 1: http://www.xbrl.org/2003/role/presentationRef