The U.S. Small Business Administration (SBA) is planning to cut more than 40 percent of its workforce as part of a broader Trump administration effort to slash federal staffing, the agency announced Friday.
The agency said it is slashing 43 percent of its workforce pursuant to an executive order signed by President Donald Trump last month to initiate an “agency-wide reorganization,” which would return it to its “founding mission of empowering small businesses, and to restore accountability to taxpayers.”
The SBA said its loan guarantee and disaster assistance programs, as well as its field and veteran operations, will not be affected. The staffing reductions, which will cut roughly 2,700 jobs from the agency’s workforce of 6,500, will be a combination of voluntary resignations, the expiration of COVID-era and other term appointments, and some job cuts.
The statement also noted that the average SBA employee’s salary is about $132,000 per year, more than double the national average wage.
“The reduction in workforce will save taxpayers more than $435 million annually” by the next fiscal year, it said. […]
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