Open Society Foundations (OSF), founded by billionaire George Soros, is implementing a workforce reduction of 40 percent, according to confirmed reports and a statement from the organization.
George Soros established OSF in 1979 and recently handed over control of the foundation to his son, Alex Soros.
The board of directors has approved significant changes to the organization’s operating model, leading to difficult decisions and staff cuts, in an effort to make the foundation more agile.
The aim of these changes is to maximize the impact of Open Society in addressing the current threats to open and free societies, as stated in a joint statement released by Alex Soros, the Chair of OSF, and Mark Malloch-Brown, the organization’s president.
OSF has approximately 800 employees worldwide, and around 320 positions are being affected by the reduction.
In a recent interview with The Wall Street Journal, George Soros revealed that he has handed control of his $25 billion empire to his son, Alex Soros, who expressed his intention to be more politically engaged than his father.
Alex Soros stated concerns about a potential victory by President Donald Trump in the 2024 White House race and mentioned deploying the financial resources of the Soros organization to support presidential campaigns opposing Trump.
Alex Soros was appointed as Chairman of the OSF board in December 2022 and now leads political activities through Soros’ political action committee.
The organization will continue to prioritize defending voting rights, personal freedom, and supporting democracy both domestically and abroad, according to a spokesperson for Alex Soros.
These remarks indicate that OSF and affiliated groups will carry forward the agenda set by George Soros.
OSF President Mark Malloch-Brown recently advocated for a “new economic order” focused on justice, stability, and inclusivity in global governance.
He highlighted the challenge of determining the balance between collective rights and individual rights, as well as the potential conflict between green transition and human rights.
Critics have argued that OSF’s political agenda leans too far to the left.