The Social Security Administration is preparing to lay off at least 7,000 people from its workforce of 60,000 — and the final reduction in force number could be as high as 50%, according to two people familiar with the agency’s plans who are not authorized to speak publicly.

The Social Security Administration’s acting commissioner has stepped down from her role at the agency over Department of Government Efficiency requests to access Social Security recipient information.

Berkshire Hathaway says its first quarter profit plummeted on the paper value of its investments.