About 500 employees in the Securities Commission agreed to leave the agency in response to his $ 50,000 redemption and delay bids, according to people who have direct knowledge of the matter.
The divisions of the execution, exams and offices will experience some of the significant departures, people said, asking them not to identify themselves by discussing non -non -public information. The number can climb even more as additional people accept the rejection before the deadline on Friday for an incentive of $ 50,000. Some departures may not happen until later this year.
A total of about 10% of approximately 5000 employees at the Agency. Some former employees have expressed concern that the Agency will not be able to bear the financial crisis if it appears, given the talent drain.
In order to qualify for the purchase offer, employees were certainly on the payment list of the Agency before January 24. They must voluntarily abandon the legacy, move to another agency or immediate pensions. If they accept the voluntary separation agreement and return to SEC within five years, they must fully restore the incentive.
The SEC spokeswoman refused to comment on the departures.
More cost reduction is on the agenda of the agency. SEC plans to eliminate the lessons for Los Angeles and Philadelphia offices. The General Services Administration also explored the end of the lease of the Chicago Office, although it could come with a significant financial sentence, Bloomberg reported.
Regional offices Monitoring a huge part of the exam and implementation. The positions of the most common in regional offices are also reduced, although individuals in these roles are not forced.
SEC reduction is criticized as in disagreement with a mission of administration to reduce the costs of the federal state.
“Trump’s administration can claim that all agencies should be reduced in size with approximately similar margins, and actually share a proportionate reduction,” Professors of Columbia John Coates, John Coffee JR., James Cox, Merritt Fox And Joel Seligman wrote ua blog blog Last week. “But this neglects one extraordinary fact about SEC: she consistently generated more in fees than in operational costs.”
Reuters reported earlier on Friday that hundreds would leave.
This story is originally shown on Fortune.com
