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DOGE-Backed Software Revamp to Accelerate U.S. Government Layoffs Amid Musk’s Exit

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A powerful new software tool developed under Elon Musk’s Department of Government Efficiency (DOGE) is set to accelerate mass layoffs across the U.S. federal workforce, just as Musk steps back from the initiative, Reuters reported in an exclusive on Thursday.

The program, a modernized version of the decades-old Pentagon “AutoRIF” (Reduction in Force) system, has been rebranded as the Workforce Reshaping Tool. It promises to drastically reduce the time it takes to process mass layoffs by automating tedious, error-prone manual HR processes used across federal agencies.

With over 260,000 federal workers already laid off, retired early, or bought out since President Trump’s return in January, the system is expected to play a key role in what critics have called an aggressive federal downsizing strategy. Agencies like the Department of Veterans Affairs and the IRS are preparing cuts of up to 80,000 and 40% of their staff respectively.

The revamped software enables bulk data upload, real-time collaboration, and rapid analysis of eligibility for dismissal based on factors like seniority, veteran status, and performance. This is a significant improvement over the old version, which allowed only one user at a time and required manual entry of individual personnel records.

Though DOGE claims to have saved $160 billion through cost-cutting measures, few specifics had been disclosed until now about how technology was aiding that effort. The Workforce Reshaping Tool appears to be the first tangible result of DOGE’s mandate.

The timing is critical: the software is being deployed just as legal challenges and employee reinstatements highlight growing concerns over mistakes and fairness in the layoff process. Experts warn that while automation improves speed, it may amplify systemic flaws.

“If you automate bad assumptions into a process, the scale of the error becomes far greater,” said Don Moynihan of the University of Michigan.

Despite Musk’s planned step back to focus on Tesla and his other companies, analysts believe the automation project he set in motion will continue independently — reshaping the future of federal employment.

Accenture Faces Federal Contract Slowdown Amid U.S. Spending Cuts

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Accenture reported delays and cancellations of federal contracts due to the Trump administration’s cost-cutting measures, leading to a more than 6% drop in its share price on Thursday. The administration’s Department of Government Efficiency (DOGE), led by Elon Musk, has been aggressively reducing spending and shrinking the federal workforce, impacting consulting firms like Accenture.

The U.S. General Services Administration has directed agencies to review and cancel non-essential contracts, slowing down new procurement actions and negatively affecting Accenture’s sales and revenue. The company’s federal services unit, which made up 8% of its total revenue in 2024, has been hit particularly hard by these measures.

DOGE’s aggressive policies—including rapid workforce reductions and contract cancellations—have sparked criticism, lawsuits, and uncertainty about the long-term impact on government operations. Meanwhile, President Trump is set to sign an executive order to shut down the Department of Education, a move that has already affected IBM, a key vendor for the department, causing its shares to drop 4%.

Accenture’s new bookings, a key indicator of future revenue, fell 3% to $20.9 billion in Q2. Its consulting services segment, which contributes 59% of revenue, posted $8.3 billion, missing analyst expectations of $8.54 billion. However, the company slightly raised its annual revenue growth forecast to 5%-7%, up from 4%-7%.

US Firms Seek Approval for Trump Meme Coin ETFs

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Two asset management firms, REX Advisers and Osprey Funds, have filed with the U.S. Securities and Exchange Commission (SEC) to launch seven cryptocurrency exchange-traded funds (ETFs) tied to the newly launched $TRUMP meme coin, alongside other digital currencies like DOGE, BONK, Solana, and Ripple’s XRP.

Key Points:

  • New ETFs Proposal: The filings aim to introduce ETFs connected to the $TRUMP coin, which was launched by former President Donald Trump, and other popular meme coins such as DOGE and BONK. The proposed ETFs would also include established tokens like Solana and XRP.
  • Regulatory Challenge: The filings come as the SEC embarks on an overhaul of its crypto policies, led by a crypto-friendly leadership. The decision will showcase how far the SEC is willing to go in approving new, high-risk crypto-based products.
  • Market Volatility: $TRUMP, the new meme coin, has experienced dramatic price swings, ranging from $10 to $74.59 on launch day, and settling around $44. The filings note the high volatility and uncertainty of the market, which may pose risks for investors.
  • Industry Reactions: Todd Sohn, ETF strategist at Strategas, commented that the crypto market is akin to the “wild west” due to its rapid growth and esoteric products, although he expressed skepticism about how many of these products will win SEC approval.