Prince Harry and Meghan Markle's Archewell charity has lost three members of staff following a tough financial year.
The newly released filings of the charity unveil a sharp rise In expenses alongside a fall in donations, as reported by MailOnline.
The Archewell Foundation, now rebranded as Archewell Philanthropies, recorded total expenses of $5.1 million during 2024. In contrast, revenue from donations dropped to $2.1 million, leaving charity with a net loss of $2.5 million.
With the losses, Sussex's charity retains net asset of $8.2 million, which represents decline from $10.7 million the year before.
On the other hand, three employees have been let go as part of a reconstructing process following the rebrand.
While the Sussex team denied any changes to staff last week, despite the team members being told that they were let go "because the charity was closing," the outlet revealed that last night a spokesperson for Prince Harry and Meghan Markle said, "Currently, the same full team remain in place."
Adding, "This move does mean that some staff redundancies are inevitable, particularly with junior admin roles."
"We will not be discussing these personnel details further, other than to say that we are honoured to have worked with incredibly talented and caring people who dedicate themselves to helping others," the spokesperson for the Duke and Duchess of Sussex added further.
Now, the Archewell Philanthropies staff include Harry's advisor and friend James Holt and Shauna Nep, who has also worked with Justin Bieber's make-up businesswoman wife Hailey and with music mogul Scooter Braun. Harry and Meghan, directors of the charity, do not take salary.
