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      "text": "Salaries & Related Costs ($293 million): no savings; G&A ($177 million): $9 million savings; Direct Costs ($85 million): $5 million savings; Marketing ($22 million): $4 million savings; D&A ($19 million): no savings",
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      "text": "Note: expenses include agency direct costs, marketing, salaries and related costs, general and administrative costs, depreciation and amortization AND excludes cost of principal activities, restructuring charges, impairment charges, anti-trust related matters, gains on sale of land; cost items do not sum due to rounding. Source: Third Point LLC; Company filings; Sotheby's “Capital Allocation and Financial Policies Review” slides from January 29, 2014",
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