Top five for June 2025

The top five most-read daily news stories on VirginiaBusiness.com from May 12 through June 12 included news of layoffs stemming from the Trump administration’s efforts to cut spending on federal contracts.

1 | Newport News Shipbuilding to furlough 471 workers Company spokesperson said furloughs were not expected to last more than five months. (May 30)

2 | Booz Allen CEO says 7% of employees to be laid off About 2,500 employees, mainly in the management consulting business’ civil division, were expected to lose their jobs by the end of June. (May 23)

3 | DHS says it’s canceling $2.4B Leidos contract
A court filing revealed the federal government had terminated a cybersecurity contract that had been disputed by another contractor. (May 15)

4 | Leesburg firm lays off 155 after Navy cancels $170M contract The U.S. Navy notified government contractor Pantheon Data that the Department of Government Efficiency, aka DOGE, was requiring the military branch to cancel its service contract. (May 15)

5 | 41 Virginia companies made the 2025 Fortune 1000 Freddie Mac, the federally sponsored mortgage business, maintained its spot as the top-ranked Virginia-based company at No. 38 on the Fortune 500, down two spots from last year. (June 2)