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Article: FDIC planning to reduce its swollen work force. (Federal Deposit Insurance Corp.)
- Article from:
- American Banker
- Article date:
- August 17, 1993
- Author:
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON - After quadrupling its staff during the last decade, the Federal Deposit Insurance Corp. is preparing to slim down.
The agency is working on an early retirement package for as many as 1,100 employees. Another group - 1,000 temporary staffers - will be let go by yearend.
Rumors that a massive reduction in force is coming are being dismissed by senior officials, but they admit that trimming the agency's 15,000-person work force is a top priority.
"This is going to be a huge undertaking," said FDIC research director Roger Watson. "It's easy to grow. It is much harder to shrink. It's not as much fun either."
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