U.S. President Donald Trump said that Friday would be billionaire Elon Musk’s last day leading the Government Efficiency Agency, which was established to cut government spending.

In a post on Truth Social, Trump stated that he would hold a joint press conference at the White House later today with Musk, "who will always remain with us and continue to assist us along the way."

Musk had announced in a post on X (formerly Twitter) his departure from the U.S. administration and the end of his role as head of the Government Efficiency Agency—a department created by Trump at the start of his second term to streamline government expenditures and reduce the federal workforce.

The American billionaire did not clarify whether this was a resignation, termination, or mutual agreement, though the White House had previously stated that his role was temporary.

The agency’s operations had sparked significant controversy in the U.S., particularly regarding its access to employees’ personal data and its role in mass layoffs of federal workers. Nearly 12% of the federal workforce—about 260,000 out of 2.3 million government employees—were reportedly let go as a result of its policies.