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Trump and Elon Musk ‘join forces’ to lay off 7,000 more employees at a US government agency amid peak season

The layoffs are part of the Trump administration’s effort to cut the federal workforce through the Department of Government Efficiency (DOGE), whose adviser is Elon Musk.

The Internal Revenue Service (IRS) will begin laying off about 7,000 employees in Washington and across the country starting Thursday, the New York Times reported, citing three people familiar with the matter.

The layoffs target probationary employees who have been employed for less than a year. Most of them are compliance staff, responsible for ensuring taxpayers comply with tax laws, filing tax returns and other administrative tasks.

This is part of the Trump administration’s effort to cut the federal workforce through the Department of Government Efficiency (DOGE), whose adviser is billionaire Elon Musk.

The layoffs come in the middle of tax filing season and it’s unclear how they might affect tax collection services this year.

In the United States, the Internal Revenue Service (IRS) is one of the most powerful agencies of the federal government responsible for collecting taxes, auditing, and enforcing tax laws.

As the nation’s tax agency, the IRS — under Biden — is tasked with cracking down on wealthy tax evaders to increase revenue. By the end of 2024, the IRS had collected more than $1.3 billion in back taxes from wealthy tax evaders.

According to the latest IRS data, the agency has a total of about 90,000 employees across the United States.

In addition to the planned layoffs, the Trump administration intends to loan IRS employees to the Department of Homeland Security (DHS) to assist with immigration enforcement. In a letter sent earlier this month, DHS Secretary Kristi Noem asked Treasury Secretary Scott Bessent to lend IRS employees to support immigration enforcement efforts.

As of February 14, more than 9,500 US government employees had been laid off under the administration’s streamlining campaign led by Mr. Trump and his adviser Elon Musk. That number is in addition to the roughly 75,000 employees who have accepted severance packages offered by the administration. According to the White House, that number is equivalent to about 3% of the total 2.3 million federal civilian employees.

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Tesla Is No Longer Elon Musk’s Most Valuable Asset

**Breaking News: Tesla Falls Behind as Musk’s SpaceX Surges Ahead** In a stunning turn of events, Tesla is no longer the crown jewel of Elon Musk’s empire, as SpaceX has officially surpassed the electric vehicle giant in value for the first time in five years. Musk’s fortune, once heavily anchored by Tesla, has shifted dramatically following a series of alarming developments. Musk’s financial landscape took a hit after he funneled over $200 million into Donald Trump’s re-election campaign, but he rebounded quickly, briefly becoming the world’s first $400 billion individual. However, Tesla’s stock has since plummeted by 50%, exacerbated by disappointing delivery numbers and concerns over Musk’s divided attention as he juggles his new role in the Trump administration. Recent reports indicate that Tesla’s revenue growth has stagnated to a mere 1% in 2024, while net income has declined for the second consecutive year. Meanwhile, shocking drops in vehicle sales have been documented across key markets, including Germany, China, and Australia. As public sentiment turns against Musk, protests have erupted at Tesla dealerships nationwide, amplifying the urgency of the situation. The turmoil doesn’t end there. Musk’s appeal of a Delaware court ruling that invalidated a lucrative pay package has further complicated his financial stability. Forbes has slashed the value of Musk’s stock options by 50%, revealing that his stake in Tesla is now worth $97.8 billion, significantly less than the soaring valuation of SpaceX. With SpaceX’s value now estimated at $147 billion—almost $20 billion more than Musk’s Tesla holdings—this shift marks a seismic change in Musk’s financial narrative. SpaceX’s revenue surged by 51% to $13.1 billion in 2024, buoyed by the booming Starlink satellite internet service. As the dust settles, it’s clear that Musk’s fortunes are in flux, and the landscape of his empire is shifting dramatically. Stay tuned as we continue to monitor these developments closely.

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