US Companies Tell Investors DOGE Cuts Will Ultimately Pay Off
- Firms say agencies will be drawn to their tools and services
- Uncertainty and risk loom as upside has yet to materialize
Elon Musk at the US Capitol in Washington, DC.
Photographer: Al Drago/BloombergThis article is for subscribers only.
US executives are trying to soothe concerns that the Department of Government Efficiency’s contract-slashing spree might hurt profits, saying a modernized public sector is more likely to adopt their tools and services.
DOGE, as Elon Musk’s cost-cutting initiative is known, is an increasingly prominent topic in communications with investors, data compiled by Bloomberg shows. An analysis of the earnings calls of Russell 3000 companies showed it was mentioned more than 200 times by 79 companies this quarter.