This week, Alexander Soros, the youngest son of George Soros and now president of the Open Society Foundations, announced in a statement the cut of 40% of the company’s staff in the midst of a series of “significant changes” in its management model.
The statement states that “through this new model, the Board aims to transform operations across the global networkwith the purpose of generating a more agile organization that is more capable of taking advantage of past achievements and facing urgent and emerging challenges”, he points out.
The wave of layoffs comes a month after Soros Sr. announced that the eldest son from his second marriage will take the reins of the multimillion-dollar family foundation.
With these changes, the company hopes to implement new strategies and visions of its organization and according to the spokesperson for the Open Society Foundations the cuts will not be greater than 40%, taking into account that currently its payroll reaches 800 employees worldwide.
Although George Soros previously assured that the association would not be led by any of his children, at the time of announcing his decision, the Hungarian-born billionaire investor and philanthropist stressed that Alexander has the skills and qualities necessary to lead the company, he told the Wall Street Journal.
The Open Society Foundations (OSF), founded in 1993, is one of the largest non-profit organizations that promotes and supports liberal causes in the world working for justice, democratic governance, equality and human rights. providing more than $1.5 billion a year.
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Source: La Opinion
