Two things can be bad at once. The IT consulting can be too expensive. Cutting it all at once with no other plan can have disastrous consequences.
Rash moves like this are things politicians and corporate ladder climbers alike love to do, but then they run far away from the consequences. They know they can convince enough people that their bold move was a good thing and that the consequences will diffuse throughout the years on to other people.
This very well could become more expensive to cancel abruptly when you consider the second and third order effects.