Amid ongoing efforts by President Donald Trump's administration to reduce the size of the government, the Office of Government Efficiency, known by the abbreviation '$DOGE
', has expanded its influence within the U.S. Securities and Exchange Commission (SEC) by appointing a third member to the existing team within the agency, according to informed sources.
The office, overseen by billionaire and presidential advisor Elon Musk, is tasked with reviewing contracts and the administrative structure within the agency with the aim of proposing downsizing or new restructuring operations.
This comes at a time when the agency has lost at least 16% of its employees since March, as a result of the voluntary retirement packages launched by the current U.S. administration.