Reported 1 day ago
Booz Allen has reduced its annual outlook and workforce in light of a significant slowdown in government contract funding, particularly affecting its civil sector. CEO Horacio Rozanski noted that the recovery of their business will take longer than expected, with a projected revenue decline of 4% to 6% this year. Although the national-security sector remains strong, it cannot compensate for the losses in the civil side, leading to an anticipated earnings drop and substantial restructuring efforts to cut costs.
Source: YAHOO