Gates Foundation Plans to Boost Giving and Cut Staff Ahead of Its 2045 Sunset |
Headcount reductions come as the organization accelerates its historic plan to give away $200 billion before closing in 2045. Justin Tallis-WPA Pool/Getty Images
An estimated 500 employees are expected to lose their jobs at the Gates Foundation over the next few years, as the world’s largest charitable foundation prepares to wind down and give away its assets by 2045. Headcount reductions will allow more funds to flow directly toward charitable giving, the organization said yesterday (Jan. 14), when it also announced its largest-ever annual spending budget of $9 billion. The historic payout will accelerate spending across programs, including women’s health, A.I. in U.S. education, polio eradication and vaccine development.
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