ACCENTURE warns that repression is under the guidance of Elon Moscow’s income

Unlock Digest Editor free

Halef’s roller, FT editor chooses his favorite stories in this weekly newsletter.

Accenture warned that Elon Musk’s efforts to reduce the cost of the US government began to influence its revenues, and the consulting group also emphasized the threats to global economic uncertainty.

The company said on Thursday that the new work for the US government, which amounted to about 8 percent of $ 16.7 billion in the last quarter, slowed down after the Presidential Administration Donald Trump was in charge.

“The new administration has the exact goal of management to manage the federal government more effectively. During this process, many new procurement actions have slowed down, which has a negative impact on our sales and income,” said Accenture Executive Julie Sweet during the analyst call.

Accent The shares on Thursday decreased by 7 percent to close $ 300.91. They have now dropped 15 percent after Trump’s inauguration in January.

The company did not reduce its full years of income management, as expected by some analysts, but acknowledged that the new business trends were “very recent”.

ACCENTURE – one of 10 Consulting firms directed Trump administration in dispersal of expenses organized by the so -called state efficiency department of the Ministry of Government (DOGE).

Last week, the federal supply showed that by 2027 the contract on the focus, which potentially costs up to $ 5 million, was “abolished for convenience”. The contract, under which $ 10 million has already been spent since 2021, has been a 10 -year contract on the focus or subcontractor, stopped in the Trump administration.

The general services administration, which helps coordinate federal procurement, said the departments and agencies needed to prove the value of consulting contracts with 10 firms, which also include Deloitte, Booz Allen Hamilton and IBM, among others album.

“While we continue to believe that our work for federal customers is important, we believe that constant uncertainty when government priorities develop and these assessments are unfolding,” – warned Sweet.

However, she said: “We see the basic opportunities over time in order to help the consolidation, modernization and invention of the federal government to provide a whole new level of efficiency.”

Last month Accenture Rocking your global diversity and inclusion goals After the “assessment” of the US political landscape. The day after Trump’s inauguration, the federal contractors promised that they did not have Dei programs that violated the laws against discrimination.

“In recent weeks, we have been seeing an increased level of what has already been of significant uncertainty in the global economic and geopolitical setting, which means the transition from the first quarter in December,” Solod said.

Surinder Tinder, Jefferies analyst, said in the client’s note that “with constant volatility, it is unclear how confident the leadership should be considered.”

Additional Chris Cook Report in London