Accenture has warned that Elon Musk’s efforts to slash US government spending have started to affect its revenues, with the consulting group also highlighting threats from global economic uncertainty.
The company on Thursday said new work for the US government, which accounted for about 8 per cent of its $16.7bn in global revenue in the last quarter, slowed sharply after President Donald Trump’s administration took office in January.
“The new administration has a clear goal to run the federal government more efficiently. During this process, many new procurement actions have slowed, which is negatively impacting our sales and revenue,” said Accenture’s chief executive Julie Sweet during an analyst call.
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