Minority Business Development Agency Layoffs Signal Major Shift [Forbes]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: Forbes
As of April 2025, nearly all of its peak 250+ employees have been laid off. The remaining five career employees received Reduction in Force (RIF) notices on Tuesday, April 8, 2025. While the agency remains statutorily authorized, this shift effectively guts the agency and ensures its dormancy. This marks a major shift in the federal government's engagement with minority business enterprises (MBEs), a sector that has historically faced structural barriers to capital, contracts, and market access. A Legacy of Impact Established by Executive Order in 1969 and codified by Congress in 2021, the MBDA operated for more than five decades as the federal government's primary resource for minority business development. According to its FY 2024 Annual Performance Report , the agency helped facilitate over $5.6 billion in capital, contracts, and export deals for minority-owned businesses and contributed to the creation or retention of over 22,000 jobs. Through a network of more than 40 bus
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