The Social Security Administration is preparing for “significant workforce reductions.” As part of these changes, it has offered current employees up to $25,000 to resign. The Office of Personnel Management issued a memorandum earlier this week advising agency heads to have their reorganization plans developed by March 13,

WASHINGTON (AP) — The Social Security Administration is preparing to lay off at least 7,000 people from its workforce of 60,000, according to a person familiar with the agency’s plans who is not authorized to speak publicly. The workforce reduction, according to a second person who also spoke on the condition of anonymity, could be as high as 50%.

The Social Security Administration has cut half of its outsourced information technology spending, slashing expenditures for private-sector contractors as part of an effort to keep full-time staff employed,