In a period of significant upheaval, Schmidt Futures, the foundation co-founded by billionaire and former Google CEO Eric Schmidt, has been grappling with the review and potential closure of several programs, as well as experiencing staff layoffs. The foundation, known for its involvement in initiatives spanning national security, public health, and technology research, has placed more than a dozen programs under review, according to internal communications obtained by Forbes and insights from seven individuals connected to the foundation.

One of the affected programs is the "Crisis Response Initiative," a partnership aimed at directing corporate aid to humanitarian disasters. Despite being publicly promoted for an upcoming UN Security Council event, Schmidt Futures had planned to withdraw its support for the initiative before its official launch, with the news reportedly coming as a surprise to UN organizers. The absence of Schmidt and his foundation's representatives at the event was ultimately filled by a Goldman Sachs executive.

Notably, these changes within the foundation have also resulted in layoffs, although specific details were not disclosed. Employees expressed disappointment and embarrassment over the program closures, with one stating, "at a dime it can all be dropped?" The foundation's spokesperson, Matthew Hiltzik, confirmed that a restructuring had taken place and stated that a thorough review of the foundation's operations and impact was ongoing. Hiltzik also mentioned that the foundation plans to announce new initiatives in 2024.

These developments have raised uncertainty regarding Schmidt Futures' future initiatives. The "Quad Fellowship," a program in partnership with the White House aimed at providing grants to students across multiple countries, is reportedly among the initiatives being cut from the foundation's roster. Additionally, the future of "Rise," a global talent and networking program for teenagers in collaboration with the Rhodes Trust, is currently under review. The Rhodes Trust did not respond to a comment request, while the White House declined to comment on the Quad Fellowship.

Employees expressed concerns about job security and voiced frustrations that the foundation's decisions seemingly revolve around the whims of Eric and Wendy Schmidt. Schmidt Futures was founded in 2017 as Eric Schmidt prepared to step down as executive chairman of Alphabet. Under the leadership of CEO Eric Braverman, the foundation sought to fund ambitious tech, science, and social projects, including the establishment of a VC fund named ex/ante. The departure of Braverman, who left following an internal investigation conducted by Schmidt's family office, Hillspire LLC, reportedly led to several resignations within the organization.

Schmidt Futures, funded through the Eric and Wendy Schmidt Fund for Strategic Innovation, aims to address philanthropy's biggest challenges over time. Despite claims of an expanding foundation in a town hall meeting earlier this year, the recent changes have created an atmosphere of uncertainty and speculation regarding the future direction of the organization. As Schmidt's empire expands into other sectors, including his involvement in a tech accelerator named Steel Perlot, challenges within Schmidt Futures continue to unfold.

Correction: An early version of this story inaccurately suggested that Schmidt Futures was shutting down.