Annual report pursuant to Section 13 and 15(d)

Restructure

v3.6.0.2
Restructure
12 Months Ended
Dec. 31, 2016
Restructuring And Related Activities [Abstract]  
Restructure

13. RESTRUCTURE

Restructure

In February 2016, we committed to a plan to reduce operating expenses, which included a workforce reduction of 11 employees, representing approximately 27% of our employees prior to the reduction. We incurred approximately $0.4 million in expenses as a result of the workforce reduction, substantially all of which were severance costs.

In October 2016, we committed to a restructuring of an additional portion of our workforce in order to preserve our resources as we determine future strategic plans. As part of this restructuring, we eliminated 14 positions, representing approximately 48% of our workforce. We expect the restructuring to be substantially complete in the first quarter of 2017. As of December 31, 2016, we incurred approximately $1.1 million in restructuring costs, substantially all of which related to severance costs.

In November 2016, we committed to a further reduction in our workforce. We eliminated five positions and incurred approximately $0.7 million in expenses as a result of the workforce reduction, substantially all of which were severance costs.

 

 

 

Total

 

 

Amounts

 

 

Accrued at

 

 

 

estimated

 

 

settled

 

 

December 31,

 

 

 

costs

 

 

to date

 

 

2016

 

Restructuring Costs

 

$

2,206

 

 

$

(708

)

 

$

1,498