The Social Security Administration is preparing to lay off at least 7,000 people from its workforce of 60,000 — and the final reduction in force number could be as high as 50%, according to two people familiar with the agency’s plans who are not authorized to speak publicly.

Summary

The Social Security Administration plans to reduce its workforce by 7,000 to 30,000 employees, potentially reducing its current workforce of 60,000 by up to 50%.

The agency plans “significant workforce reductions,” reassignments, and voluntary separations. Office leases in multiple states are already being terminated.

Critics warn this will severely impact service delivery to 72.5 million beneficiaries, causing field office closures and longer wait times.

The move sparks concerns about reduced access to benefits and comes amid existing understaffing and looming funding challenges.

  • NollijEnglish
    3·
    4 hours ago

    Before going homeless, there will be a massive uptick in reverse mortgages. Remember that most retirees were able to buy houses back when they were super cheap. A reverse mortgage gives them income while effectively selling the equity in their home. As is often the case, they will be screwing over their kids and grandkids. There won’t even be a house (owned) to inherit upon their death.

    The executor will be forced to sell the house to pay off the reverse mortgage, often at a discount, to exactly the types you describe.