June 18, 2009
Ford Foundation Offers Buyouts to One-Third of Its 550 Workers
The Ford Foundation is offering buyouts to one-third of its 550 employees to reduce expenses and avoid cutting its grant making.
The move is the latest in a series of efforts by the foundation, the second largest in America, to trim its costs following an almost 30-percent drop in assets last year. The percentage decline in its endowment, which currently is about $9.1-billion, is similar to the decline at many other foundations.
"We did substantial savings and belt-tightening,
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