Table:
| (In thousands) | 2019 | 2018 |
| --- | --- | --- |
| Balance at beginning of period | $185 | $205 |
| Plus: Amounts charged to cost and expense | 6,014 | 7,261 |
| Less: Amounts paid | (4,631) | (7,281) |
| Balance at end of period | $1,568 | $185 |
Paragraphs:
Note 18 – Restructuring
During the second half of 2019, the Company implemented a restructuring plan to realign its expense structure with the reduction in revenue experienced in recent years and overall Company objectives. Management assessed the efficiency of our operations and consolidated locations and personnel, among other things, where possible. As part of this restructuring plan, the Company announced plans to reduce its overall operating expenses, both in the U.S and internationally.
In February 2019, the Company announced the restructuring of certain of our workforce predominantly in Germany, which included the closure of our office location in Munich, Germany accompanied by relocation or severance benefits for the affected employees. We also offered voluntary early retirement to certain other employees, which was announced in March 2019.
In January 2018, the Company announced an early retirement incentive program for employees that met certain defined requirements. The cumulative amount incurred during the year ended December 31, 2018 related to this restructuring program was $7.3 million. We did not incur any additional expenses related to this restructuring program during the year ended December 31, 2019.
A reconciliation of the beginning and ending restructuring liability, which is included in accrued wages and benefits in the Consolidated Balance Sheets as of December 31, 2019 and 2018, is as follows:
Question:
Why did the company implement a restructuring plan in 2019?
Answer: to realign its expense structure with the reduction in revenue experienced in recent years and overall Company objectives.