DoD Plans to Ax Oracle and Leidos Contract as Part of Cost-Saving Initiative: Report
The U.S. Department of Defense intends to terminate a several-year agreement with Leidos Holdings. NYSE: LDOS ) and Oracle ( NYSE: ORCL As part of a cost-cutting initiative, as stated in a report by Bloomberg. Oracle’s cloud human resources software was chosen to oversee the management of 900,000 civilian personnel at the Pentagon. Meanwhile, Leidos would be responsible for providing services and support for this initiative, as stated in the report. Nonetheless, U.S. Defense Secretary Pete Hegseth released a memorandum on March 20th stating that the project had exceeded its budget and fallen behind schedule. Hegseth stated, "The software development initiative for the Defense Civilian Human Resources Management System along with related ongoing contracts at the Defense Human Resources Activity is presently six years delayed and has exceeded the allocated budget by over $280 million (780%). It’s projected that another two years will be needed for additiona...