Spicoli's stash is running out…
Actor Sean Penn’s disaster-relief nonprofit CORE Response is laying off 28 staffers as it tightens its belt in anticipation of a $20 million deficit for 2023.
CORE told employees this month that fundraising was slower than expected this year, which contributed to the ongoing deficit, and that the layoffs are “necessary to fundamentally change this trend and ensure CORE’s ongoing operations beyond 2024,” according to a copy of an internal presentation seen by Bloomberg.
The nonprofit cited, among other things, a February Businessweek investigation, which found concerns over its financial management and lack of response to alleged sexual harassment. Airbnb Inc.’s philanthropic arm subsequently severed ties with CORE, while other major donors including Amazon Inc. also reviewed their relationship with the charity.
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Bloomberg banned from 8Kun?