Social Security Administration Announces Significant Layoffs

In a Thursday statement, the Social Security Administration says that they are making significant reductions to their workforce. They told employees that if they want to voluntarily separate from the agency, they're offering incentives up to $25,000 and making them available until March 14th on a first-come, first-served basis. They also told employees that they might be transferred to what they call, quote, mission critical positions. And this comes after President Trump signed an executive order on February 11th, asking agencies to prepare for big reductions in workforce. And in mid-February, the Consumer Financial Protection Bureau laid off about one to two hundred employees, and there's been talk recently that significantly more layoffs are coming very soon. However, a formal announcement has not been made by the agency. The CFPB has been involved in efforts like reducing junk fees for consumers, and there is a lawsuit out right now against the Trump administration in the effort to reduce this agency. Recently, House Democrats have gotten directly involved in the lawsuit with Representative Maxine Waters and Hakeem Jeffries, as well as Representative Nancy Pelosi being involved in this effort. Now, they say that this reduction in the agency causes consumers significant and irreputable harm and is against the law. In a brief filed in the court, the lawmakers say, quote, the agency has delivered more than $21 billion back to consumers who have been defrauded by entities like large banks, loan servicers, debt collectors and payday lenders. Reporting on Capitol Hill, Jason Blair, Entity News.