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IBM affected by DOGE cuts, downplays impact during Q1 earnings call
IBM had 15 of its federal contracts cancelled in Q1 due to DOGE-related cuts, according to the company's CEO.
Both Krishna and James Kavanaugh, IBM’s CFO, then proceeded to downplay the potential impact of DOGE on the company’s future business. “We’ve had a handful of contracts, either statement of work, or cancel and on our annualized backlog of over $30 billion in total consulting,” Kavanaugh said. Krishna added that the company’s federal government consulting contracts largely focus on crucial areas.
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