The Federal Deposit Insurance Corporation (FDIC), the US banking regulator, plans to cut more than 1,200 jobs as part of the Trump administration's plan to cut the federal workforce. The FDIC said in an email to employees on the same day that the layoffs will be made through voluntary retirement, internal separations and retention of vacant positions. The email shows that the FDIC plans to cut 1,250 jobs, including 500 employees who accepted the Trump administration's deferred resignation program earlier this year. If the number of voluntary separations is insufficient, the FDIC will officially lay off employees starting on May 13. It is reported that not all departments will be laid off, and eligible employees must accept voluntary separations between April 28 and May 5.