Elon Musk holds a chainsaw on stage at the Conservative Political Action Conference (CPAC) held in National Harbor, Maryland, USA on February 20, 2025.
Nathan Howard | Reuters
The Trump-appointed leadership of the Consumer Financial Protection Agency, will “settle” all 1,700 employees while firing almost all of their employees, according to employee testimony.
In a series of statements released late Thursday, federal employees said a massive layoff was discussed at a meeting attended by senior CFPB leaders and Elon Musk’s so-called government efficiency members this month.
“My team was instructed to help end the majority of CFPB employees as soon as possible,” said an employee identified as Alex Doe, a pseudonym used in fear of retaliation.
The DOE said the plan from CFPB leaders and Doge is to cut the bureau’s workforce in three stages. It first eliminates probation and duration employees, then runs a wave of layoffs of around 1,200 people, leaving a skeleton crew of hundreds of workers.
“Finally, the department will “completely reduce” within 60-90 days by terminating most of the remaining staff,” Doe said.
Worker testimony comes at a critical time for the CFPB. This is an institution created to protect consumers after the 2008 financial crisis caused by irresponsible loans. Since Doge operatives first arrived at CFPB this month, the department has closed its Washington headquarters, launched its first round of layoffs, and spoke to those remaining to stop almost every job.
The application came in a lawsuit launched by the CFPB union that halted the movement of Director Russell Vote. The agency’s actions were put on hold until the March 3 hearing after the CFPB fired about 200 probation and duration of employees.
The document shows a clear disconnect between some of the external messages from Vought and behind-the-scenes activity at the station.
In a motion filed Monday in the case, Vought opposed the idea that he was planning to eliminate the CFPB.
“The predicate to implementing a ‘more streamlined and efficient station’ means that there will continue to be CFPB,” he writes.
However, the Trump administration’s plan was to lower the CFPB to the required minimum staffing minimum required under the law. The CFPB employees remained only five CFPB employees who were either in separate offices or folded into another regulatory body, the workers testified.
“Staff were told by senior executives that CFPB would be eliminated.
“A senior executive said the CFPB would be “a room in the Treasury Department, the White House or the Federal Reserve, with five men and telephones,” Doe said.
Employees said that if directed by the court, they would provide their name and title under the seal.
This story is developing. Please check for updates.
