One of the Trump Administration’s latest moves to cut the federal workforce involves employees of the Securities and Exchange Commission, according to Advisor Hub and Bloomberg News.
An email to staff sent by SEC Chief Operating Officer Ken Johnson and reviewed by Bloomberg said that the SEC is offering eligible employees a $50,000 incentive to resign or retire by April 4.
The email indicates that the offer is a voluntary separation incentive or voluntary early retirement program, with a March 21 deadline to apply.
President Trump and the Department of Government Efficiency under Elon Musk have embarked on efforts to reduce the size of a number of federal agencies and have fired or offered buyouts to over 100,000 employees. The administration’s previous layoffs have included widespread cutbacks of probationary employees, those generally on the job for less than a year and who have yet to gain civil service protection.
To be eligible for the SEC’s offer, employees must have been on the agency’s payroll before Jan. 24. They must voluntarily leave through resignation, transfer to another agency, or take immediate retirement. If they accept a voluntary separation agreement and return to the SEC within five years, they must pay back the incentive in full.
An SEC spokesperson declined to comment.
Recently, the SEC told all staff, including the unionized workforce, that they must resume working from the office starting April 14.
The commission has also sent an email to staff informing them of plans by the General Services Administration to terminate building leases for its regional offices in Los Angeles and Philadelphia, according to a Reuters report.
The commission said the ending of those leases is not directly related to any staff reorganizations or layoffs within the SEC.
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