EddieJayonCrypto
4 Mar 25
The U.S. Securities and Exchange Commission is offering $50,000 to eligible employees who leave the agency by April 4 as part of the Trump Administration’s efforts to overhaul the SEC. The buyout program, announced by SEC Chief Operating Officer Ken Johnson, gives employees the option to transfer to...
The U.S. Securities and Exchange Commission (SEC) is offering eligible employees a buyout of $50,000 if they depart by April 4, as part of the Trump Administration's government overhaul efforts. This program allows employees to transfer, resign, or retire by March 21 and is a cost-cutting measure due to the agency's operating deficit. The proposed buyouts align with Trump's cost-cutting agenda driven by Elon Musk's Department of Government Efficiency. The SEC declined to comment when reached for a response. The initiative reflects the Trump Administration's efforts to overhaul the SEC as part of broader changes to the Federal government. The announcement comes as SEC Chief Operating Officer Ken Johnson announced the buyouts to his staffers. The program allows employees to transfer to another federal agency, resign, or retire, with a deadline to apply for the voluntary separation incentive or voluntary early retirement program set for March 21. Only employees on the agency's payroll before January 24 are eligible for the buyout. The SEC, operating at a deficit, has been under pressure to reduce its operating costs, including cutting contributions to employee benefits, as outlined in its 2024 financial report. This move is part of Trump's government overhaul efforts, championed by Elon Musk's Department of Government Efficiency, which aims to save taxpayers' money through staffing reductions and other measures in federal agencies. The SEC's response was added after publication to note their stance on the buyout program. This story was updated after publication to note the SEC's response.