Short on Fund-Raising, Red Cross Will Cut Jobs
When Americans face a disaster more often than not the first assistance offered is from the American Red Cross. They plan to continue to do that but they are facing the reality that they need to change the face of who they are and how they operate.
“Facing a $200 million operating deficit, the American Red Cross is preparing to cut as much as one-third of its headquarters staff, up to 1,000 employees, and pare regional management.”
“The 126-year-old organization had not tapped its $800 million endowment to cover the deficit but relied instead on loans that it uses as part of its normal cash-management process. Its budget in 2007 was $3.45 billion, which includes its blood operations as well as its disaster services.”
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