Accenture flags federal contract cancellations, delays as US curbs spending

FILE PHOTO: The logo of Accenture is displayed on a building, on the first day of the annual meeting in Davos, Switzerland, January 15, 2024. REUTERS/Denis Balibouse/File Photo

(Reuters) -Consultancy firm Accenture said on Thursday the Trump administration's efforts to reduce federal spending have led to delays and cancellations of new contracts, sending the company's shares down more than 6%.

The new U.S. administration and its Department of Government Efficiency (DOGE), led by billionaire Elon Musk, have been implementing measures to slash spending and reduce the size of the federal workforce.