Madoff scandal leads to staff cuts in abortion industry

Charlie Butts and Jody Brown
OneNewsNow
1/17/2009

Because of a downturn in donations and losses related to the Bernard Madoff scandal, Planned Parenthood's national office has laid off about one-fifth of its staff.

According to the federally funded abortion provider, the layoff affected about 30 people. The cuts came following last month's closure of the Florida-based Picower Foundation, which shut down because its assets -- totaling nearly $1 billion -- were managed by Madoff but lost in his alleged Ponzi scheme. Picopower was a major contributor to Planned Parenthood.

While Jim Sedlak of STOPP International regrets anyone losing their job, he suggests the country is better off for what has happened to the largest abortion provider in the country. the rest