Our team oversaw and personally provided the analytics for this initiative. MetLife at the time was a long time exclusive account and this project encompassed the need for MetLife to reduce its national location count from 1,150 locations to approximately 700 locations within a two year period.
Through our team’s work, every major MetLife site was personally toured and analyzed, and workstation counts were competed. The program focused on achieving maximum space efficiency in minimal locations. With this inefficiency came unneeded operating expenses on the bottom line.
The objectives were to reduce annual GL expense by $60mm, reduce the square foot used per associate from 329 to 225, reduce average space cost by 20% and reduce the total locations by 15%.
In this project we were successful in achieving all of these goals in addition to over a $100mm reduction in GL expenses, and put in place a strategy to reduce their portfolio from 11.7mm sf to 7mm sf in a four year period.
In an interesting side note, during the project on determined that MetLife had over 5,000 empty workstations in the portfolio.