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The 12 regional banks of the U.S. Federal Reserve system on Thursday said they had adopted a new transparency and accountability policy regarding requests for bank records from the media and...
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The U.S. Federal Reserve is reducing its headcount by about 300 people this year, mainly in the information technology department and positions connected to payment processing systems. These reductions are a combination of attrition and layoffs and represent the first budgeted decline in headcount since 2010. The staff cuts come at a sensitive time for the Fed, as it has incurred significant losses on its operations in recent months.
The U.S. Federal Reserve system is cutting about 300 people from its payroll this year, a small but rare reduction in headcount across an organization that has grown steadily since 2010 as its reach in the economy and regulatory agenda have expanded. A Fed spokesperson said the cuts are focused on the staff of the U.S. central bank's 12 regional reserve banks and mainly hit information technology jobs, including some no longer needed because of the spread of cloud-based computer software, and positions connected to the Fed's various systems for processing payments, which are being c...
A Fed spokesperson said the cuts are focused on the staff of the US central bank's 12 regional reserve banks and IT jobs, including some no longer needed because of the spread of cloud-based computer software