Calling its workforce “bloated,” the Social Security Administration announced Friday plans to slash about 7,000 jobs, or roughly 12% of its staff. The potential cuts are part of a larger reorganization at the agency in line with the Trump administration’s drive to downsize the federal government.
In a press release, the agency said it plans to reduce its current staff of around 57,000 to a target of 50,000 employees.
A new analysis reveals that the policy change would mainly benefit high-earning retirees or those close to retirement.