The World’s CFOs Have a Dire Message for Real-Estate Investors
- Executives across a wide range of industries eye property cuts
- Analysis of earnings call transcripts shows breadth of change
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Property investors are about to discover just how much the global fallout from the coronavirus pandemic has spread from deserted and cast-off buildings to their bottom lines.
Hundreds of corporate executives tracked in earnings calls around the world in the past five months addressed the urgency to cut real-estate costs, according to an AI model trained by Bloomberg to scour transcripts. Tactics include cutting office space, accelerating branch closures, renegotiating rents on warehouses and even shutting data centers.