v3.22.2.2
Restructuring
9 Months Ended
Sep. 30, 2022
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
During the year ended December 31, 2020, the Company experienced significant economic challenges associated with a severe decline in bookings, resulting primarily from COVID-19 and overall global travel restrictions. To address these impacts, in May 2020, the Company’s management approved a restructuring plan to realign the Company’s business and strategic priorities based on the current market and economic conditions as a result of COVID-19. This worldwide restructuring plan included a 25% reduction in the number of full-time employees, or approximately 1,800 employees, as well as a reduction in the contingent workforce and amendments to certain commercial agreements. These restructuring expenses are included in the Company’s condensed consolidated statements of operations, and unpaid amounts are included in accrued expenses and other current liabilities on its condensed consolidated balance sheets. Cumulative restructuring charges as of September 30, 2022 were $353.3 million. As of September 30, 2022, the remaining liability for restructuring costs was not material.

For the nine months ended September 30, 2021, the Company incurred $112.1 million in restructuring charges, including $75.3 million related to impairments of operating lease right-of-use assets and $37.2 million related to impairments of leasehold improvements. Restructuring charges for the three months ended September 30, 2021 were not material.
In the second quarter of 2022, the Company announced it would shift to a remote work model, allowing its employees to work from anywhere in the country they currently work. The shift to a remote work model was in direct response to the change in how employees work due to the impact of COVID-19. As a result, the Company recorded restructuring charges of $89.1 million during the nine months ended September 30, 2022, which include $80.5 million relating to an impairment of both domestic and international operating lease right-of-use assets, and $8.4 million of related leasehold improvements. Restructuring charges for the three months ended September 30, 2022 were not material.