Booz Allen Hamilton (BAH) is looking to cut about 7% of its nearly 36,000-strong workforce in the fiscal Q1 due to contract impacts from reduced government spending, the company's Chief Financial Officer Matt Calderone said during the fiscal Q4 earnings call Friday.
Calderone said the layoffs will be concentrated in the company's civil business, according to a FactSet transcript.
"We are moving aggressively to right-size our talent base, both to match immediate contract level demand and to reshape our workforce for the future," Calderone said in the transcript.
Shares of the company were down more than 13% in recent trading.
Price: 111.85, Change: -17.28, Percent Change: -13.38
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