EY at work
Fortune 100 industrial conglomerate
▇ The issue
With the COVID-19 Pandemic accelerating changes across the real estate and construction industries, there was a significant opportunity to perform cost-saving analysis across a wide range of areas, including energy usage, rent/leasing, facilities management, office strategy, excess land, property incentives and more.
▇ The solution
The company turned to EY to identify run-rate real estate savings and asset monetization through performing a detailed cost analysis, developing business cases, and implementing transformative solutions.
▇ The outcome
EY identified $40M+ annual cost savings opportunities and $200M+ of one-time cost savings opportunities, including footprint consolidations, lease renegotiations, property tax appeals, and asset monetization.