Restructuring and Severance Charges
|3 Months Ended|
Jan. 30, 2022
|Restructuring and Related Activities [Abstract]|
|Restructuring and Severance Charges||Restructuring and Severance Charges
The Company incurred total restructuring and severance costs of $0.6 million in both the first quarter of fiscal 2022 and 2021.
As part of its continued efforts to reduce costs, in the first quarter of fiscal 2022, the Company recorded $0.5 million of restructuring costs related to ongoing costs of facilities exited in fiscal 2020 and $0.1 million in severance costs. In the first quarter of fiscal 2021, the Company recorded severance costs of $0.3 million primarily resulting from the elimination of certain positions and $0.6 million related to on-going costs of facilities exited in fiscal 2020, partially offset by a $0.3 million lease termination gain.
Accrued restructuring and severance costs are included in Accrued compensation and Accrued insurance and other in the Condensed Consolidated Balance Sheets. Activity for the first three months of fiscal 2022 is summarized as follows (in thousands):
The remaining balance as of January 30, 2022 of $0.2 million, was primarily related to severance costs in the International Staffing and North American MSP segments.
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/disclosureRef