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,

The Social Security Administration is preparing to lay off at least 7,000 people from its workforce of 60,000 — and the final reduction in force number could be as high as 50%, according to two people familiar with the agency’s plans who are not authorized to speak publicly.