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Brinks Report > Blog > Business > Pentagon Cancels $5.1 Billion in Contracts! Big Companies Like Accenture & Deloitte Hit – Guess Who’s Taking Over the Job?
BusinessEconomy

Pentagon Cancels $5.1 Billion in Contracts! Big Companies Like Accenture & Deloitte Hit – Guess Who’s Taking Over the Job?

Ankita Das
Last updated: April 12, 2025 10:25 am
Ankita Das
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Pentagon cancels $5. 1b consulting contracts to cut costs
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Trulli

In a big step to save money, the Pentagon has cancelled $5.1 billion in consulting and IT contracts. These contracts were with major companies like Accenture, Deloitte, and Booz Allen Hamilton.

U.S. Defense Secretary Pete Hegseth shared the news in an internal memo and later in a video posted on social media platform X (formerly Twitter). He called these contracts “non-essential spending” and said that most of the services can be done by Pentagon staff instead of hiring outside firms.

Trulli

Also Read: Coromandel International Share Jumps 4.64% After Signing MoU with Ma’aden for Phosphatic Fertiliser Supply

Plan to Save $4 Billion

Hegseth said this decision could save the U.S. government nearly $4 billion. “We will no longer spend taxpayer money on outside firms for things like basic consulting and services we can handle ourselves,” he added.

The Pentagon cancels consulting contracts across various defense agencies such as the Air Force, Navy, DARPA, and the Defense Health Agency. The goal is to reduce waste and improve internal efficiency.

Support from Elon Musk’s DOGE Team

To help with the transition, the Pentagon’s Chief Information Officer has been asked to work for the next 30 days with the Department of Government Efficiency, a team supported by tech billionaire Elon Musk.

Together, they will create a new plan to manage the Pentagon’s IT and consulting needs in-house. They also plan to review and renegotiate cloud service deals to get better prices.

Read More: TCS Q4 FY25 Results: Profit Drops, Shares Dip 0.16% as Caution Creeps In

Impact on Consulting Firms

After the news broke, shares of the affected companies dropped in early trading:

  • Accenture fell 2% to $279.52
  • Booz Allen Hamilton dropped 2.4% to $106.30

So far, these companies have not responded publicly to the announcement.

Conclusion

The Pentagon cancels consulting contracts as part of a larger effort to reduce waste, save money, and rely more on technology and internal resources. This move signals a major shift in how the U.S. Defense Department plans to handle its operations in the future.

 

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TAGGED:ConsultingCutsCostEfficiencyDefenseNewsElonmuskPentagon
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