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.