During a recent special meeting, Lakeland Community College trustees voted to eliminate 25 management and staff positions as part of “cost-saving measures” to balance the school’s budget for fiscal year 2024. Impacted employees were notified following the meeting of their employment ending Jan. 3, and, according to officials, the college’s human resources department will assist […]
St. Mark s Medical Center in La Grande, Texas is set to close Oct. 12 due to an inability to sustain its $13 million mortgage debt. Efforts to offset debt
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 consolidated. The spokesperson, who would not speak for direct attribution, said the staff cuts represented a combination of attrition, including retirements, and layoffs.