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#SEC offers staff $50,000 to resign or retire
The #US #Securities & Exchange Commission is offering some employees $50k if they choose to resign or to retire under an early retirement program, acc/to an agency memo.
#ElonMusk’s #DOGE has been looking at ways to cut staff & costs from the SEC & other #FederalAgencies to meet demands from Trump. SEC employees have until March 21 to decide, acc/to a Feb 28 all-staff memo from the SEC's COO, Ken Johnson.
#USpol #TrumpCoup
https://www.reuters.com/world/us/us-sec-offers-staff-50000-resign-or-retire-memo-says-2025-03-03/
In a separate memo sent to staff on Monday, Johnson told employees the #GSA - a separate agency that handles leases across the federal govt - has decided to terminate the SEC's leases for its #LosAngeles & #Philadelphia offices.
GSA has also notified #DOGE of a plan to cancel the #Chicago office's lease, but #SEC said terms of that agreement do not allow for a unilateral move "without significant financial penalties", acc/to the March 3 memo seen by Reuters.
@Nonilex I also don't get how they are one-sided canceling contracts...