George Soros-controlled Open Society Foundations is set to lay off 40% of its global workforce following the transition of leadership from billionaire investor George Soros to his son, Alexander Soros. The decision is part of the organization’s efforts to implement a new vision and transform its operating model.

In a statement signed by Alexander Soros and the foundation’s president, Mark Malloch-Brown, the Open Society Foundations announced the layoffs and highlighted the need for “significant changes” to build upon past achievements and address emerging challenges. The board aims to create a more agile organization capable of advancing its mission of promoting freedom and democracy.

Currently employing approximately 800 staff worldwide, the Open Society Foundations acknowledged that these layoffs were difficult decisions but necessary to align with the organization’s new vision.

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George Soros, with a net worth of around $8.5 billion, founded the Open Society Foundation. The foundation supports civil society groups worldwide in their pursuit of freedom and democracy.

Soros has been critical of Prime Minister Narendra Modi and the Adani Group crisis in India, suggesting that it could pave the way for a democratic revival in the country. These remarks drew criticism from the Bharatiya Janata Party (BJP), accusing Soros of intervening in India’s democratic processes.

The BJP alleged that Soros had ill intentions to influence the democratic process in India and desired a pliable government. In response, Soros emphasized the need for institutional reforms and anticipated a democratic revival.

Recent political developments involving Union Minister Smriti Irani and the Karnataka Police FIR against BJP’s IT cell chief Amit Malviya added to the ongoing political tensions.

Smriti Irani accused Opposition leader Rahul Gandhi of associating with individuals supported by George Soros, claiming that they aimed to destabilize the democratically elected Indian government.