Open Society Foundations, the philanthropic organization led by billionaire investor George Soros, is set to lay off 40% of its global workforce as part of significant changes under the leadership of Soros’ son, Your Content has learned.
Human rights organizations have expressed concerns about the impact on social justice movements and the future sustainability of initiatives.
The layoffs, the second major cut in three years, will comply with local regulations, although specific details regarding the timing and locations have not been disclosed.
The foundations aim to redesign their operations and streamline their internal structures to maximize grant funding.
While some speculate on the implications of the change, supporters emphasize the foundations’ history of flexibility and empowering local staff, according to U.S.News.