WASHINGTON ( NewsNation) — The Office of the Director of National Intelligence will dramatically reduce its workforce by 30% to 40% and cut its budget by more than $700 million annually as part of a major restructuring effort, senior intelligence officials tell NewsNation.

Director of National Intelligence Tulsi Gabbard announced Wednesday a plan to cut 40% of her office's staff by October in an effort to save taxpayers about $700 million per year.

Tulsi Gabbard announced big changes at the Office of the Director of National Intelligence with deep budget cuts and job reductions. The move is part of a wider plan by the Trump administration to reshape how intelligence works.