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Transformation Initiatives
9 Months Ended
Sep. 30, 2020
Restructuring And Related Activities [Abstract]  
Transformation Initiatives

15.

Transformation Initiatives

 

During the third quarter of 2020, management embarked on the implementation of certain transformation initiatives to enable the company to reduce costs, streamline operations and support future growth.

 

As part of these initiatives, we incurred $55.4 million of costs, primarily in cash, related to employee separation benefits, lease termination costs and professional fees during the three months ended September 30, 2020 of which $38.3 million was recorded to the Advisory Services segment and $17.1 million to the Global Workplace Solutions segment. Of the total charges incurred, $15.7 million was included within the “Cost of revenue” line item and $39.7 million was included in the “Operating, administrative, and other” line item in the accompanying consolidated statements of operations for both the three and nine months ended September 30, 2020. Management continues to assess and modify these transformation initiatives based on the company’s overall strategic plan and evolving business conditions.