WASHINGTON—In a sign of the depth of staff cuts that may come at NCUA, the FDIC is reportedly seeking to reduce its workforce by a another 20% as part of an effort to reduce the overall size of government.
Citing anonymous sources, Bloomberg reported the staff reduction is being driven by the Department of Government Efficiency. A small team of DOGE staffers met with FDIC leadership this week, according to Bloomberg and other news outlets.
As CUToday.info reported, DOGE entered NCUA headquarters April 10.
The FDIC’s authorized staffing for 2025 is 6,876 full-time equivalents, according to the agency’s annual report to Congress. In January, the Washington Post reported that the FDIC rescinded job offers to more than 200 new examiners because of a government-wide hiring freeze implemented by the White House, ABA Banking Journal said.