The Democratic Socialists of America are Broke, In Debt, and Beginning Mass Layoffs.
Leaders of the Democratic Socialists of America (DSA) are admitting the far-left political organization is broke and running significant deficits — throwing the group’s future into question. DSA’s National Political Committee members acknowledged the group had seen a “decline in revenue, membership, and overall excitement” in an announcement to the organization’s Bread & Roses Caucus. Layoffs are being floated to solve the group’s fiscal situation.
$2 Million In The Hole.
Budget documents show the DSA is on track to incur $7 million in expenses for 2024, while the group only anticipates total revenue at $5 million. The organization’s Treasurer believes the group can buy itself another year to bring its books in order if it narrows its 2024 deficit to between $821,000 and $921,000. This still leaves a roughly $1.2 million gap that needs to be closed.
Layoffs Seen As The Only Way Out.
Taking a page from the corporate America playbook, the DSA is suggesting the organization adopts voluntary buy-outs for employees — beginning with non-union director-level staff but moving to unionized staff. Additionally, they say they believe the group should delay hiring a new executive director following the departure of Maria Svart.
https://thenationalpulse.com/2024/01/24/the-democratic-socialists-of-america-are-broke-in-debt-and-beginning-mass-layoffs/
