Where companies say they will cut budgets first in a softer economy

It’s no secret that companies are reducing their real estate footprint. Even companies still committed to in-office work, but embracing a hybrid model, require less square footage and more use of shared office space.

Now as the economy cools, and at least flirts with entering a recession, real estate is going to be a focus of budget cuts for corporations.

That’s according to a new survey of more than 200 CFOs and finance executives conducted by Gartner in July and released on Wednesday, which revealed that “real estate/facilities management” was the corporate function most likely to face budget cuts.

“Given that 72% of CFOs want to trim their…