Carl Hess: We’re happy with how we continue to be a large account reference there was principally across the R&D portfolio, right? Our existing HWC business skews large accounts to begin with. With respect to how we’re progressing in large market, I think I’d just point to the fact that we’re growing and large market is very much a part of that. Some of the talent we brought on focus is there. But we think we play well across all market segments, and that’s a strength we have for us.
Derek Han: Okay. Thank you.
Operator: Thank you. Our next question comes from the line of Mark Marcon with Baird. Your line is open.
Mark Marcon: Good morning, and thanks for taking my question. I’ve got two. One, when we take a look at Health, Wealth and Careers, most of the business is cyclically insensitive and across the Board. But you do have some cyclically sensitive elements within that business. I’m wondering what you’re seeing just in terms of client behavior buyer intentions in that area? And then I have a follow-up with regards to cost synergies.
Carl Hess: Yes. So typically, our career business is the one that’s seen the most volatility to it through the economic cycle. We not see all that much of it this time as employers are trying to adjust to the €œnew normal of work€. And you even see that despite threat of recession in the job numbers that we posted here in the U.S. We’ve also taken measures over the years to make that business some of us economically sensitive, switching to software and technology as part of the offering and to focus on some of the parts of the business that are also less economically sensitive like executive compensation as part of the mix. So not declaring victory, but I think we’ve made strides in removing some of the sensitivity there. The higher demand has been holding up well we think.
Mark Marcon: That’s terrific. And then with regards to the incremental cost synergies that you ended up achieving. Did that come primarily from real estate or personnel or a combination thereof? And what’s going to drive the $100 million of additional cost reductions next year and any change to the 2024 run rate savings targets.
Andrew Krasner: So no change to the 2024 targets. The amount that sort of got pulled forward in Q4 is really just a matter of certain components moving faster than we’ve anticipated. And that’s come across the portfolio of actions that we’ve taken, whether it was real estate or technology and optimization or right shoring, things of that nature. So we’re pretty pleased that it did come from all components of the program.
Mark Marcon: And that’s the expectation for the $100 million as well in terms of this coming year?
Andrew Krasner: Correct. We do expect all components to be contributors going forward.
Mark Marcon: Great. Thank you.
Carl Hess: Thank you.
Andrew Krasner: Thank you.
Operator: Thank you. I’m showing no further questions in the queue. Ladies and gentlemen, this concludes today’s conference call. Thank you for your participation. You may now disconnect. Everyone, have a wonderful day.
