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stux⚡
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Föderation · Di 04.03.2025 17:55:46

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Laffy

Laffy
@GottaLaff@mstdn.social

Föderation EN Di 04.03.2025 17:54:47

😳
Via Marisa Kabas:

BREAKING — The Securities and Exchange Commission (SEC) has just announced the closure of major regional offices in Philly, LA and Chicago, per email shared with me.

“5 alarm fire,” SEC employee tells me.

Full email text:

..GSA has now decided to end all federal leases goverment-wide where GSA can do so unilaterally and where the agency is not providing direct services to the public As part of this decision, GSA recently informed us it has decided to teminate the building leases for the Los Angeles Regional Office (LARO) and the Philadelphia Regional Office (PLRO). GSA retains the sole authority to terminate the leases because they manage those leases on our behalf. To be clear, these lease terminations are not associated with any reorganization or reduction in force plan regarding SEC personnel, but rather apply solely to SEC space. As part of the initiative described above, GSA also notified us they intend to terminate the lease for the Chicago Regional Office (CHRO). The SEC has responded to the Administration and pointed out that CHRO's lease terms are different iand do not allow for unilateral GSA termination without significant financial penalties. We will keep you posted as we learn more about GSA's decisions. The SEC will be working with GSA on the process for finding new space for these offices. We understand that GSA aims to have the space exited by the end of August 2025 for PLRO and CHRO, and the end of September 2025 for LARO. It is the SEC's intent that if new office locations are not ready by the time the GSA-initiated lease terminations take effect, then the affected SEC staff will be placed on full-time telework. We will provide more information as we learn it. Thank you.

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