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Oracle is reportedly among wave of tech giants hit by DOGE cuts, as defense secretary balks at ‘throwing more good taxpayer money after bad’

Summary by Fortune
Oracle, the software behemoth, is reportedly among a group of tech companies whose contracts with the Department of Defense have been cut as a result of the Trump administration’s mass spending and workforce reductions. Tech firm Accenture, which also had a government contract terminated, warned earlier this month of the negative financial repercussions of the contract loss. Oracle is one of the latest tech giants to be impacted by sweeping cuts…

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FortuneFortune
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Oracle is reportedly among wave of tech giants hit by DOGE cuts, as defense secretary balks at ‘throwing more good taxpayer money after bad’

Oracle, the software behemoth, is reportedly among a group of tech companies whose contracts with the Department of Defense have been cut as a result of the Trump administration’s mass spending and workforce reductions. Tech firm Accenture, which also had a government contract terminated, warned earlier this month of the negative financial repercussions of the contract loss. Oracle is one of the latest tech giants to be impacted by sweeping cuts…

·New York, United States
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Miller & ChevalierMiller & Chevalier

Alejandro (Alex) Sarria Discusses Federal Contract Terminations and Loss Mitigation in Bloomberg Law | Miller & Chevalier

News cridge Fri, 03/28/2025 - 16:06 Featured On Publication Name Bloomberg Law Include Disclaimer Off News Type News Subtitle "Federal Contractors Focus on Limiting Losses as DOGE Cuts Arrive" Date 03.28.2025 Description Alex Sarria discussed the practical steps federal contractors and grantees should take to prepare for contract and agreement terminations and modifications resulting from Executive Order 14222 (Implementing the President'…

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Wall Street PitWall Street Pit

US Defense Cost-Cutting Puts Oracle, Leidos Deals at Risk - Wall Street Pit

Oracle (ORCL) shares fell over 3% to $141.22 in early trading Friday as the U.S. Department of Defense canceled its $280 million over-budget HR software plan for 900,000 civilian employees, Bloomberg News reported. The Pentagon’s cost-cutting move, driven by Trump and Elon Musk’s efficiency push, scrapped Oracle’s 2019 initiative and…

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Wall Street Pit broke the news in on Friday, March 28, 2025.
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