The $25 billion international network of foundations started by George Soros is shuttering offices around the world as it prepares to cut more than 40 per cent of its staff.   

Employees of the Open Society Foundations’ Africa operations received correspondence last week detailing the next steps of the process, which includes closing half a dozen offices in Africa, in addition to Baltimore and Barcelona, according to a copy of emails.   

“With the decision by the board in June to cut the staff by more than 40 per cent, our staffing size and footprint by necessity needs to diminish,” said  Binaifer Nowrojee, OSF’s vice president of programs.  

The charity doles out more than $1 billion in grants annually, including over $100 million in Africa.