Open Society Foundations announced it will make a “substantial reduction in headcount” in the coming months, according to Bloomberg News. The charity, which Soros has funded to the tune of $30 billion, acknowledged the layoffs were a “difficult decision,” but claimed it will emerge a “nimbler” organization. Open Society offered resources to employees to cope with the coming layoffs, including a “Well-being in Uncertain Times” workshop, and the opportunity to meet with a “People and Culture Advisory Partner.”

The changes come as George Soros, 92, has ceded control of Open Society to his son, Alex, who was until recently best known for hosting NBA athletes and supermodels at luxury parties in the Hamptons.

It also portends a rocky road for one of the progressive movement’s most prominent charities.

[Alex has pledged to be “way more political than his father,” but it’s tough to do that while cutting staff by nearly half. That’s not bad news, either. — Ed]