This story was originally published on mynorthwest.com.
The Bill & Melinda Gates Foundation plans major changes as it rolls out a record $9 billion operating budget for 2026.
The Seattle-based philanthropy said it will cut up to 500 jobs over the next five years — about 20% of its workforce — as it caps annual operating costs.
The foundation plans to shut down by 2045 and said the move will help direct more money toward its global health and education work.
“The foundation’s 2045 closure deadline gives us a once-in-a-generation opportunity to make transformative progress, but doing so requires us to focus relentlessly on the people we serve and the outcomes we want to deliver,” said Mark Suzman, CEO of the Gates Foundation. “Ensuring as much of every dollar as possible flows toward impact is critical to achieving our ambitious goals to save and improve millions more lives over the next 20 years.”
Bill Gates has pledged to donate nearly all of his wealth to support that mission over the next two decades.
“While progress is possible, it remains fragile, and delivering on our mandate requires a commitment to move forward with transparency for our employees and partners and disciplined stewardship of the foundation’s finite resources,” said Suzman.
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