George Soros’ Open Society Foundations adopts ‘New Model’ as son assumes control.

Concerns Over Open Society Foundations’ Layoffs as Leadership Transfers to George Soros’ Son

Several human rights organizations are expressing their concerns about Open Society Foundations’ plans to lay off 40 percent of their global staff. This is the nonprofit’s second major cut in three years, coinciding with billionaire investor George Soros handing over leadership to his son.

“We are most concerned for social justice movements, which now have to wait for the impact on their sustainability,” said Kellea Miller, executive director of the Human Rights Funders Network. “In the field of philanthropy, decisions at the top can have an outsized ripple effect on those enacting change.”

Open Society Foundations, the umbrella organization for Soros’ work, has announced significant changes to its operating model. The layoffs will comply with local regulations, but specific details regarding the location and timing have not been disclosed.

“This will involve some difficult decisions,” said Mark Arena, a spokesman for the Open Society Foundations. “We anticipate that implementing the proposed new model would involve the redesign and retooling of our existing operations and a substantial reduction in headcount of no less than 40 percent globally.”

In 2021, the foundations offered buyouts to dozens of employees and sought to streamline their internal structures while maintaining their level of grant funding. Currently, they employ around 800 staff members and have offices in over 20 countries.

Kenneth Roth, the former leader of Human Rights Watch, believes that the OSF layoffs will not result in a decline in support for human rights work. However, it may lead to fewer, larger grants in the future due to the staffing reduction.

According to The Human Rights Funders Network, OSF was the sector’s third-largest funder in 2019.

“We also consider the humanity of those losing jobs at OSF,” Miller said. “This is not nominal, and it also means that movements that have longstanding relationships with program officers there now have to rebuild their access and wait for transparency about the implications.”

Earlier this month, George Soros announced that he was handing over control of his foundations to his 37-year-old son, Alex. The change to a “new model” aims to maximize grantmaking dollars and create a culture of “strategic opportunism.” However, the lack of details about the new plan has raised concerns among some who view Soros as having too much power.

Alex Soros has stated that he will be “more political,” but has not provided further elaboration.

OSF is well-known for its support of dissident movements in Soviet countries and continues to fund Central European University. Bard College is also a major recipient of OSF’s funding.

As part of the new model, OSF may be holding more funds in reserve to respond to emerging opportunities and challenges.

The Western Journal has reviewed this Associated Press story and may have altered it prior to publication to ensure that it meets our editorial standards.

The post George Soros’ Open Society Foundations Switching to ‘New Model’ as Son Takes Over appeared first on The Western Journal.

*As an Amazon Associate I earn from qualifying purchases