One Economy Foundation cuts 12 jobs following funding reduction

The One Economy Foundation has reduced its permanent workforce by 12 employees following a 25% cut to its operating budget after one of its largest donors reduced its funding.

In a media release issued on Friday, the foundation says the funding reduction necessitated difficult decisions to safeguard the delivery of its core services.

“The recent funding reduction by one of the top five donors to One Economy Foundation has resulted in a reduction of 25% to One’s operating budget. To protect the provision of core services to the community, difficult decisions had to be made, including reducing our staff complement from 37 permanent employees to 25,” it says.