Layoffs

The Internal Revenue Service has placed 50 senior IT leaders on administrative leave, as the union filed suit over a Trump order on collective bargaining.

The challenge comes on the heels of decisions from judges in Maryland and California ruling in favor of laid off probationary employees.

The Justice Department has asked the high court to intervene and halt reinstatements of federal employees who were fired by the Office of Personnel Management.

Goldman Sachs Group is planning to start its annual round of reductions earlier in the year after previous cuts took place in the latter half.

The Federal Deposit Insurance Corp. cut between 600 and 700 of its employees as President Trump's federal downsizing effort advances, fueling concerns over oversight and potential agency consolidation.

Some lenders are once again hiring mortgage lenders, but memories of the painful staffing cuts they were forced to make over the past two years remain top of mind.

The job reductions come as the card network focuses on emerging markets, artificial intelligence and other nascent technology over transaction volume.

The Hammond, Louisiana, company, which announced changes to its business strategy, cut 71 jobs and reduced its dividend to 8 cents per share.

The muni market finances the "fabric of our nation, and now, because of Citi's exit, the cost of financing for state and local governments is going to go up," a sell-side source said.

The recent round of terminations comes after the neobank cut 225 employees in January.