Why US FTC is paying employees to voluntarily resign
What's the story
The US Federal Trade Commission (FTC) has offered financial incentives to its employees to resign voluntarily. The news was revealed in an internal email, which was seen by Reuters. The email explained that not all staff would qualify for the offer, especially those whose departure could severely disrupt the agency's mission-critical functions or ongoing work.
Details
Offer includes financial package
The financial package being offered to eligible FTC employees is valid until September 30, and enables them to stop working after May 23. This incentive program is similar to the "fork in the road" initiative introduced by the Donald Trump administration in January, aimed at offering options to two million federal employees. However, some staff members may be left out of this offer if their exit could adversely affect the agency's consumer protection and antitrust law enforcement responsibilities.
Resignation policy
FTC's approach to resignations and retirements
Though it hasn't witnessed mass firings or resignations like other enforcement agencies, the FTC has fired two of its Democratic commissioners. They allege the move violated established law. In addition to the resignation package, the FTC is also offering early retirement options and buyouts to employees close to retirement age.
Legal proceedings
FTC's ongoing legal battles and initiatives
Currently, the FTC is engaged in a major antitrust trial against Meta Platforms, which was launched during Trump's first term. It is set to go up against Amazon in a consumer protection case in September. An FTC attorney had previously hinted that cost-cutting measures could delay these trials but later retracted his statement within hours. Under Chairman Andrew Ferguson's leadership, the agency has formed a labor market task force and urgsed social media users to share their experiences with bans.