The Treasury Department is implementing significant workforce reductions within the Bureau of Fiscal Service, aimed at streamlining operations as per President Trump's Executive Order on workforce optimization. Several divisions, including those responsible for servicing savings bonds and paper checks, are being outsourced, potentially affecting hundreds of employees. Affected staff were notified in town hall meetings, with options for early retirement and deferred resignation offered. The full scope of layoffs, expected to reduce 25% of the bureau's staff, will unfold in multiple phases pending final approval from management.
The Treasury Department is outsourcing certain units of the Bureau of Fiscal Service, impacting potentially hundreds of jobs as part of a federal workforce reduction effort.
Affected employees were informed of job eliminations during a town hall meeting, with options for early retirement or deferment offered amid ongoing layoffs.
The BFS plans to conduct multiple layoffs phases, outsourcing services following an Executive Order aimed at optimizing the federal workforce, aiming to cut operational costs.
Employee representatives predict further notifications of layoffs within a week, as up to 25% of the bureau's 3,300 employees could be impacted by staff reductions.
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