Gates Foundation to Cut 20% of Staff and Review Relationship with Epstein
The Gates Foundation plans to cut up to 500 jobs, approximately 20% of its workforce, in the coming years. The charitable giant has also launched an external review of its relationship with the late Jeffrey Epstein. The foundation shared details of these moves in an email to staff on Tuesday. The foundation and its co-founder Bill Gates have been under scrutiny following revelations about the Microsoft billionaire’s association with Epstein.
Earlier this year, Gates apologized for extramarital affairs during an all-hands meeting and said he regretted his association with Epstein and had no involvement in the sex offender’s crimes. He was asked to testify before Congress in June regarding his relationship with Epstein.
“In many ways, this is a challenging time for our organization, but it also highlights the critical importance of taking difficult actions now,” Gates Foundation CEO Mark Suzman wrote in the memo.
The foundation previously shared some information about the layoffs in January, related to a roughly $9 billion budget for 2026, and plans to keep operating expenses to $1.25 billion. This will require reducing its workforce by as many as 500 positions by 2030.
According to the memo, in the first phase of the restructuring, the organization plans to reduce its current staff of 2,375 by 200 people by the end of 2027. The organization is also seeking to reduce travel and other expenses.
A foundation spokesperson confirmed the restructuring details shared in the memo.
In addition to the restructuring, Suzman said he commissioned an external review in February related to the foundation’s engagement with Epstein and reviewing and developing new philanthropic partnership policies. The review is underway, and the foundation expects an update in the summer, the memo said.
In a subsequent statement, the foundation said the review was launched in March with the support of its chairman, Gates, and independent board members.
Suzman told employees that a recent board meeting in London included a session on the impact of Justice Department Epstein documents and how those documents relate to the foundation’s work and reputation.
The foundation has an $86 billion endowment and focuses on global health and development in Africa, including child mortality and infectious diseases. It is slated to wind down in 2045. Two of its biggest supporters, Melinda French Gates and billionaire Warren Buffett, have stepped down from the board in recent years following the announcement of the Gateses’ divorce.
Related Articles:
Bill Gates to Testify Before US Congress in June Regarding Epstein Case