If the Trump administration reaches its goal of cutting 5% to 10% of staff, more than 100,000 people will leave the federal workforce, making it by far the largest layoff in U.S. history. The current record-holder is IBM, which cut 60,000 jobs in 1993.

The buyouts were being pushed by both President Trump and Department of Government Efficiency head Elon Musk as a way to drastically reduce the number of employees on the federal payroll.

About 60,000 U.S. federal employees have accepted a buyout offer from President Donald Trump's administration, a source told Reuters on Thursday, ahead of a deadline that has been pushed back to at least Monday.