Quarterly report pursuant to Section 13 or 15(d)

Restructuring Charges, Net

Restructuring Charges, Net
3 Months Ended
Jul. 31, 2021
Restructuring And Related Activities [Abstract]  
Restructuring Charges, Net

10. Restructuring Charges, Net

There were no restructuring charges in the three months ended July 31, 2021. On April 20, 2020, in light of the continuing uncertainty in worldwide economic conditions caused by COVID-19 and, as part of a broader program aimed at further enhancing Korn Ferry’s strong balance sheet and liquidity position, the Company adopted a restructuring plan intended to adjust its cost base to the then-current economic environment and to position the Company to invest into its recovery. The Company continued the implementation of this plan in the first quarter of fiscal 2021 and this resulted in restructuring charges, net of $27.5 million in the three months ended July 31, 2020 across all lines of business relating to severance for positions that were eliminated.


Changes in the restructuring liability during the three months ended July 31, 2021 were as follows:



Restructuring Liability




(in thousands)


As of April 30, 2021





Reductions for cash payments





Exchange rate fluctuations





As of July 31, 2021






As of July 31, 2021 and April 30, 2021, the restructuring liability is included in the current portion of other accrued liabilities on the consolidated balance sheets, except for $0.6 million and $0.6 million, respectively, which are included in other long-term liabilities.