The Small Business Administration is expected to announce that it will cut up to 40% of its staff as part of a larger effort to reorganize the federal agency, The Wall Street Journal reports.
The cuts will also include voluntary resignations, roles deemed nonessential and the expiration of roles created to support pandemic-related programs. Altogether, the agency is expected to eliminate 2,700 positions.
Despite the widespread cuts, other parts of the agency will grow. The agency is expected to expand its teams working with disaster recovery loans and recovery efforts.
The layoffs are the latest in a plan by Elon Musk and the Department of Government Efficiency to reduce the size of the government by $1 trillion this fiscal year. Musk told Fox Business earlier this month that there was fraud at agencies such as the Social Security Administration and the SBA, and that he was trying to put a stop to it.
