Consistent with the announcement by Udemy, Inc. on July 31, 2024, regarding driving greater operational efficiencies through reduction of organizational layers, optimization of the Company's go-to-market organization, and relocation of certain roles to lower cost locations, on September 11, 2024, the Company committed to a restructuring plan that will impact approximately 280 of the Company's global employees.

The Company expects to rehire approximately half of the impacted roles, primarily in lower cost geographies. As a result, the Company expects to recognize restructuring charges between $16 million and $19 million, which primarily consist of personnel expenses such as salaries and wages, one-time severance payments, and other benefits.

These charges will be recognized into expense beginning in the third quarter of 2024 and ending in the first quarter of 2025. Cash payments related to these expenses will be spread across the next several fiscal quarters. The restructuring is expected to be completed by March 31, 2025.