Elon Musk and his team in the White House reportedly plan to lay off a substantial portion of employees in the U.S. Department of Treasury.

Treasury Department officials said Tuesday they ... affect reinstated probationary employees,” Trevor Norris, Chief Human Capital Officer for the Treasury, wrote in a Tuesday filing.

The Treasury Department oversees the government’s finances and aids in setting fiscal policy. Created by Congress in September 1789, the Treasury Department is the second-oldest agency of the U ...