We are at a pivotal moment on our path back to organic growth. In the face of rapidly changing industry dynamics, we are committed to making the decisions necessary to invest in our strategy and take advantage of the opportunities ahead. This includes taking a hard look at everything we do in order to ensure that our work is driving value for our firm, our clients, and our stockholders.
We have developed a broad and ongoing plan to reduce our controllable expense base over time. This plan aligns our expense growth with our anticipated revenue growth while allowing us to invest in our future. This will require us to adopt operating model changes to support our strategy and to drive efficiency, evaluate our real estate footprint, and embed a focus on continuous improvement throughout the organization.
As part of this work, today we eliminated a number of roles across all business areas. Associates impacted by today's action have been contacted. In recognition of their many contributions to our firm, we offered generous transition assistance, as well as outplacement support and resources.
We have also identified a small number of subscale strategies for closure, sequenced over the coming months. Portfolio managers of impacted funds have been informed, and further communications regarding these changes will follow our standard processes.
We will share more detail about our broader plan and specific actions in the coming weeks and months as changes are finalized.
We recognize that this is a period of significant change, and we understand that it can be difficult to navigate. We are confident in our plan, and with your help, we know we will succeed.
Thank you for all of your efforts to deliver value for our clients.