OCC Workforce Cuts to Focus on Policy Analysis, Diversity Office

A key federal bank regulator said its job cuts will be focused on policy and diversity teams, as it extends a larger buyout offer to employees in those units.

The Office of the Comptroller of the Currency on Wednesday sent buyout offers to its employees, including through a new “voluntary transition program,” according to an email obtained by Bloomberg Law.

Most employees who sign up for a buyout will get a lump-sum payment equal to five months of their salary, including enhancements for those who live in high-cost areas such as New York City.

But employees in the OCC’s Office ...