Open Society Foundations, George Soros' Nonprofit, Implements Mass Layoffs

Open Society Foundations, the philanthropic network founded by billionaire George Soros, is laying off at least 40% of its staff, amounting to hundreds of job cuts. The organization, which currently employs around 800 people globally, announced "significant changes" to its operating model in an effort to become more nimble. The move comes after Soros handed control of the foundation to his son Alexander, who expressed plans to chart a new course while maintaining his father's liberal values. Open Society has disbursed over $19 billion in grants since its inception and has been influential in promoting democratization, education, public health, and the arts.