Michaela
The U.S. Securities and Exchange Commission (SEC) has offered its employees a $50,000 incentive to resign or retire, as the agency undergoes a wave of staffing changes.
A Bloomberg report revealed that SEC Chief Operating Officer Ken Johnson informed employees via email that the agency is offering a voluntary separation and retirement incentive. The program encourages staff members to resign or retire by April 4 in exchange for a financial package.
SEC employees who joined the agency in January 2024 are eligible for the incentive program, with a March 21, 2025, deadline to accept the offer. Under the program, employees can resign, retire, or transfer to another agency to receive the incentive. However, those who return to the SEC within five years must repay the full amount, according to the memo.
The decision aligns with the Trump administration’s initiative to reduce the federal workforce, a plan spearheaded by Elon Musk’s Department of Government Efficiency (DOGE).
In early February, reports surfaced that the SEC began downsizing its crypto enforcement unit, which previously had 50 staff members.
Additionally, the Office of Personnel Management sent an email to federal employees, requiring them to submit a list of their weekly accomplishments. According to the Associated Press, both Musk and President Donald Trump have signaled that failure to comply could result in job termination as part of broader government efficiency efforts.
Recent reports suggest that DOGE may be investigating the SEC, with an official DOGE account urging the public to come forward with any relevant information about the agency’s actions.
This has fueled speculation that Elon Musk’s department may be preparing for major staffing cuts at the SEC as part of its broader government downsizing efforts.
According to Reuters, the department has cut over 100,000 federal jobs from the government’s 2.3 million-person workforce, utilizing a mix of layoffs and voluntary buyouts.
Read More
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
