Major Consulting Firms Hit (Patreon)

I pray nobody here in this community is affected by this, but the odds are high that at least one person is. Fingers crossed, I hope I am wrong.

This week Federal agencies had to justify their use of major consulting firms, or face contract cuts, putting billions at risk as part of a DOGE-led efficiency push. US Federal Govt spent HALF A TRILLION Dollars on consultants over the last 3 years. 

DOGE-led layoffs have already eliminated over 62,000 federal jobs in just one month, with more to come.

Firms like Accenture and Deloitte are trying to adapt, but Booz Allen Hamilton, which relies on government contracts for 98% of its $11 billion revenue, is in deep deep trouble! —its stock has already dropped nearly 40% since Nov 5th. It is as if they knew the new admin would not be good for their all Govt business. Note Booz scrapped their Govt DEI Programs on Feb 11th.

McKinsey, however, is largely unaffected, having already been sidelined from government work after opioid-related controversies.

While civilian agencies face deep cuts, the Department of Defense, responsible for 46% of consulting spending, remains untouched.

h/t Sanjay for the info