The Minderoo Foundation in Australia has announced that approximately announced 100 employees will be laid off or placed in alternative positions, the Australian Financial Review reports.

The foundation, founded by Andrew and Nicola Forrest, told employees the cuts were part of an effort to ensure foundation funds reach their beneficiaries. The cuts come just over a year after John Hartman was appointed CEO. Upon taking over, Hartman emphasized his goal of directing foundation money to collaborations and partnerships through a leaner operating model. Minderoo spending increased to $268 million in 2022-23, up from $178 million in the previous year, the outlet reports, and booked $35.2 million in wages and employee expenses, up from $25.4 million.

“We have a responsibility to meet the ambition and generosity of our founders and match it with meaningful change in Australia, the Asia Pacific region, and around the world,” said Hartman in a statement obtained by the Australian Financial Review. “Under my leadership, Minderoo Foundation is undergoing a transformation to ensure we create maximum and lasting impact for our beneficiaries, with a higher portion of our corpus directed towards impact.”

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