The U.S. Federal Deposit Insurance Corporation (FDIC) is actively exploring options to reduce its workforce by a further 20% in alignment with cost-reduction measures initiated by Elon Musk’s Department of Government Efficiency. This development was reported by Bloomberg News, based on information from sources familiar with the situation.
Earlier in the day, it was reported that the FDIC, which is responsible for overseeing banks and insuring deposits through its insurance fund, has incorporated a select group from the Department of Government Efficiency to collaborate with its leadership. This initiative is part of a broader effort to streamline operations and enhance organizational efficiency.