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Cost Saving Initiatives | 3 Months Ended
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Mar. 31, 2023
Cost Saving Initiatives [Abstract] |
Cost Saving Initiatives |
20. | COST-SAVING INITIATIVES
The Company is conducting cost-saving initiatives, which are expected to result in the reduction of approximately 10% of our workforce over the course of 2023. Compensation and benefits expense associated with the cost-saving initiatives for the three month period ended March 31, 2023 was $20,740, of which $8,777, $11,235, and $728 related to the Financial Advisory, Asset Management and Corporate segments, respectively. The obligation pursuant to the cost-saving initiatives at March 31, 2023 was $8,184, which reflected payments of $12,556 made during the three month period ended March 31, 2023. Additional costs of approximately $95,000, primarily related to compensation and benefits, are expected to be incurred in subsequent quarters of 2023.

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