The Small Business Administration plans to reduce its workforce by more than 40% according to an announcement by the agency's administrator, Kelly Loeffler, on Friday.
The agency announced widespread restructuring aimed at "ending the expansive social policy agenda of the prior Administration, eliminating non-essential roles, and returning to pre-pandemic staffing levels," according to the announcement.
This includes cutting about 2,700 positions out of almost 6,500 in total "through voluntary resignations, the expiration of COVID-era and other term appointments, and a limited number of reductions in force (RIFs)."
The announcement comes on the same day that President Donald Trump announced that the agency will take over the Federal Student Aid office from the Department of Education, which the administration is working to drastically downsize or eliminate entirely.
"The SBA was created to be a launchpad for America's small businesses by offering access to capital, which in turn drives job creation, innovation, and a thriving Main Street," Loeffler said in a statement. "But in the last four years, the agency has veered off track — doubling in size and turning into a sprawling leviathan plagued by mission creep, financial mismanagement, and waste."
Theodore Bunker ✉
Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.
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