Latest news with #StephenEhikian
Business Insider
10-05-2025
- Business
- Business Insider
Adobe (ADBE) Strikes New Deal with U.S. Government
Tech company Adobe (ADBE) has agreed to lower the price of its software for U.S. government agencies after reaching a deal with the General Services Administration (GSA). As part of this agreement, Adobe will offer a 'Paperless Government Solution' at a 70% discount off the regular GSA list price, and the offer is valid through November 30. The move is part of broader moves in Washington to reduce spending and improve digital services. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. GSA Acting Administrator Stephen Ehikian said that the agreement helps all federal agencies access top technology at the best possible prices. He added that under President Trump's administration, the GSA is focused on buying software more strategically across agencies instead of each agency buying separately. This change is meant to speed up government modernization and cut down on inefficiencies. Unsurprisingly, Adobe's Chief Revenue Officer, Stephen Frieder, said that the company is proud to expand its work with the federal government. He said that the new deal will help agencies become more efficient, secure, and modern. Interestingly, the software bundle includes tools like Adobe Acrobat, Adobe Sign, Adobe Express, and Experience Manager Forms, which are all designed to help agencies go digital and reduce paperwork. Is ADBE Stock a Good Buy? Turning to Wall Street, analysts have a Moderate Buy consensus rating on ADBE stock based on 21 Buys, nine Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average ADBE price target of $508.22 per share implies 32.2% upside potential.
Fox News
07-03-2025
- Business
- Fox News
DOGE says government paying for 11,020 Adobe Acrobat licenses with zero users, plus more 'idle' accounts
The Department of Housing and Urban Development has been squandering money on thousands of unused software licenses, an audit found, according to DOGE. For example, there were "11,020 Acrobat licenses with zero users," DOGE noted in the post on X. The list also included other examples. DOGE's "initial findings on paid software licenses" also included, "35,855 ServiceNow licenses on three products; only using 84," "1,776 Cognos licenses; only using 325," "800 WestLaw Classic licenses; only using 216" and "10,000 Java licenses; only using 400." "All are being fixed," the tweet concluded. Fox News Digital reached out to HUD and the White House on Friday, but did not receive comments by the time of publication. "There are vast numbers of unused software licenses in every part of the government. Your tax dollars are being wasted," Elon Musk wrote when commenting on the DOGE post. DOGE has previously made similar announcements regarding the General Services Administration, Department of Labor, Small Business Administration, and Social Security Administration. "Agencies often have more software licenses than employees, and the licenses are often idle (i.e. paid for, but not installed on any computer)," the DOGE X account noted in a tweet. "For example, at GSA, with 13,000 employees, there are," the post listed, "37,000 WinZip licenses," "19,000 training software subscriptions (and multiple parallel training software platforms)," "7,500 project management software seats for a division with 5,500 employees," "3 different ticketing systems running in parallel." The tweet concluded by noting, "Fixes are actively in work." The DOGE GSA X account swiftly replied, indicating that cuts were on the way: "Not for long…" a tweet read, with a scissor emoji added in an apparent signal that cuts were coming. "We will report back with progress shortly!" GSA Acting Administrator and Deputy Administrator Stephen Ehikian replied, "Hope we didn't make you wait too long... within 3 hours of @DOGE post, @USGSA is taking immediate action to reduce $5.5M of IT spend & working to identify additional reductions across all categories—ensuring strong stewardship of your tax dollars." Several days later another DOGE post reported that GSA had made significant progress. "Since this post, @USGSA took immediate action to reduce IT spend by deleting 114,163 unused software licenses & 15 underutilized / redundant software products — for a total annual savings of $9.6M," DOGE noted. A GSA spokesperson said in a statement to Fox News Digital, "In support of the administration's priorities, efficiency and good stewardship, GSA is currently undertaking a review of its contracts and resources, including IT resources, to ensure our staff can perform their mission in support of American taxpayers. GSA has taken immediate action to fully implement all current executive orders and is committed to taking swift action to implement any new executive orders."
Yahoo
25-02-2025
- Business
- Yahoo
Top federal agency takes DOGE's mission to heart with all-hands memo to every employee: 'Reduction in force'
FIRST ON FOX: As the Trump administration's DOGE efforts continue to have an impact across government agencies, over 12,000 employees at the General Services Administration are being notified in an agency-wide email Monday evening that a "reduction in force" is underway. In the memo from acting GSA administrator Stephen Ehikian, according to a draft obtained by Fox News Digital, the agency thanked those employees who decided to be part of the "first step" of staff reduction on Friday by resigning from GSA and previewed the "next step of this process in support of the Presidential Executive Order: Implementing The President's Department of Government Efficiency Workforce Optimization Initiative, The White House, dated February 11, 2025." "This serves as notice that the agency will be conducting a Reduction in Force (RIF) and is seeking approval from Office of Personnel Management (OPM) to also obtain a Voluntary Early Retirement Authority (VERA)," the email states. "More information to impacted business units and employees will be forthcoming." The letter ends by thanking the employees that will be affected for their "service to this nation." 'Categorically Untrue': Key Government Agency Pushes Back Against Media Narratives Of Doge Chaos "I promise you that GSA will continue to do everything in our power to make your departure fair and dignified," the letter concludes. Read On The Fox News App Fox News Digital was told by a source familiar with the situation that 30-40 employees will be affected by the reduction at first, as the agency starts with a focused number meant to ensure the plan is executed well with minimal mistakes. The GSA, which performs a variety of tasks including managing federal real estate and procuring goods and services, is headquartered in Washington, D.C., and has 11 regional offices. A GSA senior manager familiar with the process told Fox News Digital that the first actions will be targeted on select offices rather than the entire agency and that bargaining unit employees are not anticipated to be affected. Additionally, the agency is looking for an additional Voluntary Early Retirement Authority, as outlined by the OPM, and will be offering severance or discontinued services annuities as appropriate. Elon Musk Has A Warning For Federal Employees Still Working From Home "GSA realizes that a Reduction in Force, while necessary to meet the administration's mandate to rightsize the federal government, reduce waste and redundancies, and deliver a more cost-effective service to the taxpayer, will impact our workforce," a GSA spokesperson told Fox News Digital. "GSA is committed to treating all of our employees respectfully and fairly, in accordance with all applicable laws and bargaining unit agreements, during this process." The executive order from earlier this month cited in the memo stated that it was intended "to restore accountability to the American public" and "commences a critical transformation of the Federal bureaucracy." "By eliminating waste, bloat, and insularity, my Administration will empower American families, workers, taxpayers, and our system of Government itself," the executive order article source: Top federal agency takes DOGE's mission to heart with all-hands memo to every employee: 'Reduction in force'
Fox News
24-02-2025
- Business
- Fox News
Top federal agency takes DOGE's mission to heart with all-hands memo to every employee: 'Reduction in force'
FIRST ON FOX: As the Trump administration's DOGE efforts continue to have an impact across government agencies, over 12,000 employees at the General Services Administration are being notified in an agency-wide email Monday evening that a "reduction in force" is underway. In the memo from acting GSA administrator Stephen Ehikian, according to a draft obtained by Fox News Digital, the agency thanked those employees who decided to be part of the "first step" of staff reduction on Friday by resigning from GSA and previewed the "next step of this process in support of the Presidential Executive Order: Implementing The President's Department of Government Efficiency Workforce Optimization Initiative, The White House, dated February 11, 2025." "This serves as notice that the agency will be conducting a Reduction in Force (RIF) and is seeking approval from Office of Personnel Management (OPM) to also obtain a Voluntary Early Retirement Authority (VERA)," the email states. "More information to impacted business units and employees will be forthcoming." The letter ends by thanking the employees that will be affected for their "service to this nation." "I promise you that GSA will continue to do everything in our power to make your departure fair and dignified," the letter concludes. Fox News Digital was told by a source familiar with the situation that 30-40 employees will be affected by the reduction at first, as the agency starts with a focused number meant to ensure the plan is executed well with minimal mistakes. The GSA, which performs a variety of tasks including managing federal real estate and procuring goods and services, is headquartered in Washington, D.C., and has 11 regional offices. A GSA senior manager familiar with the process told Fox News Digital that the first actions will be targeted on select offices rather than the entire agency and that bargaining unit employees are not anticipated to be affected. Additionally, the agency is looking for an additional Voluntary Early Retirement Authority, as outlined by the OPM, and will be offering severance or discontinued services annuities as appropriate. "GSA realizes that a Reduction in Force, while necessary to meet the administration's mandate to rightsize the federal government, reduce waste and redundancies, and deliver a more cost-effective service to the taxpayer, will impact our workforce," a GSA spokesperson told Fox News Digital. "GSA is committed to treating all of our employees respectfully and fairly, in accordance with all applicable laws and bargaining unit agreements, during this process." The executive order from earlier this month cited in the memo stated that it was intended "to restore accountability to the American public" and "commences a critical transformation of the Federal bureaucracy." "By eliminating waste, bloat, and insularity, my Administration will empower American families, workers, taxpayers, and our system of Government itself," the executive order states.
Yahoo
07-02-2025
- Business
- Yahoo
GSA Memo Orders Cancellation Or Justification Of ‘Non-Essential' Consulting Contracts
WASHINGTON — The General Services Administration has asked another federal agency to either terminate or justify all of its 'non-essential' consulting contracts. In a Thursday letter acting GSA administrator Stephen Ehikian said the GSA 'has taken the first steps in a Government-wide initiative to eliminate non-essential consulting contracts,' which the letter defines as 'any contract that merely generates a report, research, coaching, or an artifact.' The letter represents the Trump administration's latest salvo in a broad assault on federal spending, which has included an attempt to freeze all federal financial assistance grants, an effort to push federal employees into retirement, and the wholesale downsizing of the U.S. Agency for International Development. Many of the administration's early moves have been stymied by lawsuits alleging the administration has overstepped its authority, since the Constitution gives federal spending decisions to Congress, not the president. HuffPost obtained the GSA letter from a source in a different federal agency who said they were 'shocked' GSA would demand such information from other agencies. The GSA manages procurement, IT and real estate for the federal government. It's not clear if other agencies received the same letter, though it was addressed to 'Agency Head' rather then a specific official. The letter said GSA had identified contracts, enclosed in a spreadsheet, that appeared to be nonessential and asked the agency if it planned to terminate them, and if not, to provide a sentence 'explaining why the consulting contract(s) is essential for your agency to fulfill its statutory purposes.' The letter also requests 'the name of the person who represents that the consulting contract is essential.' The GSA did not immediately respond to a request for comment sent to its general media inquiry email address. This is a developing story. Please check back for updates.
