NEW YORK — The Small Business Administration said it will cut its workforce by 43%, or about 2,700 jobs, as part of a reorganization.

The SBA was established in 1953 to offer resources to small businesses and helps administer small-business and disaster-recovery loans. It played a crucial role during the pandemic, helping distribute aid to small businesses. Now the goal is to return to pre-pandemic staffing levels and cut some programs started during the Biden administration, said the new head of the SBA, Kelly Loeffler.

The SBA said its loan guarantee and disaster assistance programs won’t be affected.

The layoffs are part of a larger campaign by the Trump administration to shrink the federal workforce. — Associated Press