Sunday, June 21, 2009

Foundations Trim Staffs After Assets Slide Lower

The NY Times reported that foundations are decreasing their staffs in large numbers.

The Robert Wood Johnson Foundation was the latest to announce a voluntary severance plan, offered this month to 42 percent of its 250 employees. In May, the Ford Foundation offered a similar plan to 140 of its 550 staff members.

Bradford K. Smith, president of the Foundation Center, a research organization, said foundations were resorting to job cuts after having adopted other cost-saving measures, like hiring freezes and reductions in benefits and travel budgets. Read the article here.

No comments: