Planned Parenthood Cuts Staff Due to Investment Losses

Planned Parenthood Federation of America has reportedly laid off 20% of its workers.

NEW YORK (LifeSiteNews) - Due to a struggling economy coupled with losses suffered by a major donor fallen victim to the Madoff swindle, Planned Parenthood Federation of America has reportedly laid off 20% of its workers.

"As with many other nonprofit organizations, Planned Parenthood has had to make staff reductions at our headquarters due to the challenging economic times facing our country," Maryana Iskander, the organization's chief operating officer, said in a statement. "While taking this action is never easy, we want to ensure the millions of women and men who rely on Planned Parenthood as a health care provider that the reductions will not impact our ability to deliver care to those in need."

About 30 Planned Parenthood workers were laid off last week, due mostly to losses suffered by one of its largest donors, the Florida-based Picower Foundation, which had its $1 billion in assets managed by Bernard Madoff.

The Picower Foundation closed down last month after it was revealed that Madoff had confessed to swindling as much as $50 billion in hedge fund investments.

The Foundation was one of the abortion industry's largest donors, having given $484,000 to Planned Parenthood, $600,000 to the Center for Reproductive Rights, and $200,000 to the ACLU's Reproductive Freedom Project last year alone, according to Crain's New York Business.

Planned Parenthood is also reportedly feeling economic pressure in some local branches. Alan Bavley of the Kansas City Star reports that the Kansas and Mid-Missouri Planned Parenthood was preparing to suffer further possible losses in the New Year.

CEO Peter Brownlie told the Star reporter that the abortion provider would "continue to provide essential services" but was "concerned about fund-raising" in the face of a continued economic downturn in 2009.

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