TechFlow news — According to CNN, a spokesperson for the Federal Reserve confirmed on September 22 local time that the Federal Reserve System will lay off approximately 300 employees by the end of this year. The report stated that this marks the first round of layoffs at the institution since 2010. The Federal Reserve System currently employs about 21,000 people. A Fed spokesperson said the layoffs will primarily affect support roles, including technology positions that are no longer needed.
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