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GPO to offer buyouts in first quarter of FY 2015
Tuesday - 7/1/2014, 1:06pm EDT
GPO told its employees Tuesday that it planned to request authority from Congress and the Office of Personnel Management to offer buyouts and early outs to 1,850 of its employees. The agency aims to reduce its workforce by 100 positions or 5 percent.
Employees who wish to voluntarily separate from the agency will be offered lump-sum payments up to $25,000, with the actual payout being calculated on a formula.
GPO will pay for the buyouts using current funding. The payments need to be completed by the end of the first quarter in FY 2015 so the agency can reap savings for the coming year.
"Unlike most Federal agencies, GPO operates like a business, covering most of its costs through the income we earn for the provision of information products and services," said Public Printer Davita Vance-Cooks, in the release. "As the Government's publisher, we're committed to ensuring that our staffing and other requirements match our customers' needs in this digital age."
The last time GPO offered buyouts was in 2011, which led to savings of about $24 million for the agency.
As part of GPO's ongoing adoption of new technologies, including publishing in digital formats, it has been able to reduce its workforce by 70 percent since 1980.