Our Bureau
Washington DC
The Donald Trump administration is continuing its cost-saving spree in government spending with the termination of services contract of IT companies such as Deloitte and Accenture. As a result, the companies stand to incur losses to the tune of $5.1 billion.
US Defence Secretary Pete Hegseth who ordered the termination of the services said that the pacts “represent non-essential spending on third party consultants” for services Pentagon employees can perform. “These terminations represent $5.1 billion in wasteful spending… and nearly $4 billion in estimated savings,” he added.
It is noteworthy to mention that the Trump administration has hired Tech Entrepreneur Elon Musk to oversee government spending as a special employee heading the Department of Government Efficiency (DOGE). He has introduced important cost-saving initiatives, such as cutting government expenses by almost $150 billion for the fiscal year 2026. He had earlier said that DOGE could find $1 trillion in savings. These efforts have resulted in the shutdown of some programs and have triggered public protests and outcry.
Musk has also been trying to convince Trump to cut tariffs imposed by the administration on the nations trading partners. The appeals, however, have not been fruitful so far.
