Gates Foundation plans to cut up to 500 jobs while undergoing review of Jeffrey Epstein ties
The Gates Foundation plans to cut up to 500 jobs, or about 20% of its staff, in the coming years as part of a long-term restructuring as the foundation also undergoes an external review of its ties to late financier Jeffrey Epstein.
Following a Wall Street Journal report that a memo was sent to employees Tuesday, a Gates Foundation spokesperson told Fox News Digital the review was first announced in a foundation-wide email last month and was agreed upon by the board and Bill Gates. The foundation did not indicate whether the planned job cuts are tied to the review.
The job cuts were disclosed earlier this year as part of the foundation’s budget planning. The review, however, has drawn renewed scrutiny regarding the foundation’s past interactions with Epstein and its policies for vetting partnerships, raising broader questions about governance at one of the world’s largest philanthropic organizations.
"Early this year, Gates Foundation CEO Mark Suzman commissioned an external review to assess past foundation engagement with Epstein, and our current policies for vetting and developing new philanthropic partnerships," a statement said. "That review is underway, and we expect the board and management will receive an update this summer."
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The organization also said employees were informed about the job cuts during discussions of its 2026 budget in a January press release.
"This cap will reduce the foundation’s current headcount target of 2,375 positions by up to 500 positions by 2030, with targets and timelines to be calibrated on an annual basis," the press release said.
The Gates Foundation was founded by Microsoft co-founder Bill Gates and his ex-wife, Melinda Gates.
The review comes as renewed attention has been placed on Epstein’s connections. In February, the Department of Justice released more than 3 million of Epstein's investigative records, including personal emails. Bill Gates' name appeared in the emails, which reportedly indicated he had affairs while married to Melinda Gates and sought medication to treat a sexually transmitted infection without her knowledge.
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Gates later reportedly acknowledged having two affairs that Epstein was aware of but said neither involved Epstein's victims.
"I did nothing illicit. I saw nothing illicit," Gates said, according to a town hall recording reviewed by The Wall Street Journal.
Bill Gates is scheduled to appear before the House Oversight Committee June 10 for a transcribed interview as part of its ongoing investigation into Epstein.
Fox News Digital's Bonny Chu contributed to this report.