The Federal Deposit Insurance Corp. plans to offer separation incentives to cut a fifth of its workforce.
Some 1,200 employees will be offered early retirement and buyout offers.
“Today’s announcement is part of a deliberate strategy to further reduce layers of management, acquire new skillsets and allow the agency to proactively address succession planning prior to any crisis or emergency situation,” said FDIC Chairwoman Jelena McWilliams. “This program will enhance our agility, preparedness and technological transformation.”
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General aviation terminal expansion is set to wrap by August.