Loeffler said the job eliminations will reduce the workforce back to the numbers it was during Trump’s first administration
The Small Business Administration (SBA) on Friday said it plans to reduce its workforce by 43%, which would eliminate thousands of jobs, despite preparing to take over student loans from the Department of Education.
President Donald Trump handed the responsibility to the SBA earlier Friday as he looks to dismantle the Education department. Student loans is one of the largest programs that is handled by the department.
SBA Administrator Kelly Loeffler said the cuts would impact 2,700 positions, and would “save taxpayers more than $435 million annually by FY26,” according to the Washington Examiner.
“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.
“Just like the small business owners we support, we must do more with less,” she continued. “We will return our focus to driving private sector growth and delivering disaster relief with accountability, efficiency, and results.”