Quarterly report pursuant to Section 13 or 15(d)

RESTRUCTURING AND LIABILITY MANAGEMENT

v3.21.2
RESTRUCTURING AND LIABILITY MANAGEMENT
 9 Months Ended
Sep. 30, 2021
Restructuring and Related Activities [Abstract]  
RESTRUCTURING AND LIABILITY MANAGEMENT RESTRUCTURING AND LIABILITY MANAGEMENT
In the third quarter of 2021, the Company announced and completed a workforce reduction representing approximately 3% of its headcount. Charges related to the reduction in workforce primarily consisted of one-time employee-related termination benefits. Additionally, the Company incurred charges related to financial and legal advisors engaged to assist with the evaluation of a range of liability management alternatives during the Prior Predecessor Quarter and Prior Predecessor YTD Period.
The following table summarizes the restructuring and liability management charges incurred:
Successor Predecessor
Three months ended September 30, 2021 Three months ended September 30, 2020
Reduction in workforce $ 2,858  $ 1,460 
Liability management —  7,524 
Total restructuring and liability management $ 2,858  $ 8,984 
Successor Predecessor
Period from May 18, 2021 through September 30, 2021 Period from January 1, 2021 through May 17, 2021 Nine months ended September 30, 2020
Reduction in workforce $ 2,858  $ —  $ 1,460 
Liability management —  —  8,141 
Total restructuring and liability management $ 2,858  $ —  $ 9,601