The Interior Department is developing a plan to cut almost 5,000 jobs by September 2013, according to a memo this week from a top agency official, but a spokeswoman for the Office of Management and Budget downplayed the likelihood that the plan will take effect.
Office of Personnel Management Director John Berry on Tuesday said his agency will not continue its experiment with extremely flexible work schedules because the program ended with mixed results.
The Results-Only Work Environment pilot program allowed about 400 OPM employees in Washington and Boyers, Pa., to decide on their own when and where they would work, as long as their work got done. OPM launched ROWE to much fanfare in June 2010, and Berry frequently spoke that year about his hope that it would radically overhaul the federal government’s workplace culture, and lead to a new way of managing employees.
All but four of 19 major U.S. banks got a green light Tuesday from the Federal Reserve to boost their dividends and take other steps that will make their stocks more attractive to investors. The Fed declared them strong enough to survive a downturn worse than the Great Recession.
The Fed’s findings signaled its confidence that the financial system, which nearly collapsed 3½ years ago, is healthy again.