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According to a report in today's , the IRS and the National Treasury Employees Union have negotiated an agreement to help defray the effects on employees of a $342 million cut in the IRS budget on agency employees. Buyouts of up to $25,000 will be offered as incentives for early retirement to IRS employees as the agency attempts to eliminate over 2,000 positions in the next few months.
October 29, 1996
THE DAILY FED
IRS, Union Negotiate on Cuts
Washington PostThe IRS plans to cut about 1,000 positions in its field offices, 819 jobs in its information systems programs, and 534 headquarters staff positions.
Employees seeking buyouts will have from Nov. 18 to Jan. 3 to apply. Workers also have the option of being reassigned to similar positions in other offices or lower-paying jobs in cities where there are job openings. Employees who opt for voluntary reassignment will be compensated for moving expenses and can seek job search help.
IRS officials said they plan to announce where buyouts will be offered within the next two weeks.
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