US Federal Reserve cutting headcount after decade of payroll growth

WASHINGTON D.C.: In a small but rare reduction to its headcount, which has grown steadily since 2010, the US Federal Reserve is cutting some 300 people from its payroll in 2023.

In a statement, a U.S. central bank spokesperson said the redundancies would affect staff in the Fed's 12 regional reserve banks, mainly focused on information technology jobs, and represent a combination of attrition, including retirem