The goal is to conduct the buyout program through the first quarter of fiscal year 2012, according to the release.
GPO’s appropriations for fiscal year 2011 are $147.5 million. According to the agency website, 16 percent of its funding comes from direct appropriation for work it does for Congress. Other revenue comes from work performed for agencies. GPO’s total revenue for fiscal year 2010 was $928.3 million.
“GPO has restructured and reinvented itself numerous times throughout the last 150 years to carry out the critical mission of meeting the dissemination and information needs of the U.S. Congress and federal agencies,” said Public Printer Bill Boarman in statement. “These challenging economic times have no boundaries and are forcing many federal agencies to seek ways to survive.”
The agency is responsible for printing and putting online the Congressional Record, Federal Register and other legislative documents, as well as printing secure documents such as passports and HSPD-12 secure identification cards.
GPO is the latest in a string of agencies to offer buyouts to employees this year. Last month, the U.S. Department of Agriculture became the first Cabinet-level agency to offer buyouts and early outs to its staff. Earlier this year, the Federal Trade Commission, the Air Force Materiel Command, the U.S. Postal Service and the Smithsonian Institution have also used buyouts to reduce their budgets.