Today is the deadline for U.S. Department of Education workers to decide whether they want to take up a $25,000 offer to quit or retire.
Employees have until 11:59 p.m. to accept the deal, which would see their resignations take effect on March 31.
The offer, announced Friday afternoon via email, was extended by the Education Department's top human resources official, Jacqueline Clay, as part of a "one-time" initiative ahead of a "very significant" workforce reduction.
The buyout is available to most of the agency's staff, including those who are eligible for retirement, according to a report by USA Today, which obtained a copy of the email.
"We are pleased to offer ED employees up to a $25,000 Voluntary Separation Incentive Payment (VSIP) starting today, including those who wish to retire," the memo said.
Not every employee who chooses to take the buyout will receive the full $25,000 payment, however. According to the memo, the incentive payment will be "the equivalent of severance pay or $25,000, whichever is less." That means the actual amount offered could vary based on the employee's individual circumstances, with the payment capped at $25,000.
While most employees are eligible to participate in the offer, there are some exclusions, per USA Today. Workers must have been employed by the federal government for at least three consecutive years. Those who have received student loan repayment benefits in the last three years, or were awarded certain retention bonuses are not eligible.
This voluntary separation initiative comes as the Education Department prepares for significant budget and staffing cuts, which are expected to impact the department's operations in the near future. President Donald Trump has consistently questioned the need for the department, indicating that he may issue an executive order to either shut it down or reduce its influence.