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Booz Allen Hamilton, a major US government consultant, announced 2,500 layoffs and lower-than-expected profits due to President Trump's administration cost-cutting measures. The company's non-defense work will shrink significantly, impacting its 36,000-strong workforce by 7%. This follows a federal government review aimed at saving billions in consulting contracts. Booz Allen, despite offering over $1 billion in contract savings, has seen its stock price plummet by 43% since the election. The company attributes the slowdown to reduced spending and slower procurement processes.

Prepared by Christopher Adams and reviewed by editorial team.