The Trustees of Massachusetts announces significant job cuts due to ‘ongoing structural deficit’

BOSTON — The Trustees of Massachusetts, a non-profit land conservation and historic preservation organization, announced significant job cuts Wednesday due to an “ongoing multi-million-dollar structural deficit.”

“We have an ongoing structural deficit in our operating budget that the organization has been carrying for several years. While operating revenue has grown, our expenses have far outpaced it,” a spokesperson for The Trustees told Boston 25 News.

The Trustees own title to more than 100 properties that span nearly 30,000 acres and hold 93 conservation restrictions to protect an additional 20,000 acres of land across the Bay State.

Katie Theoharides, president and CEO of The Trustees, said in a statement that 30 employees, or about 10 percent of the non-profit’s team were laid off to reduce the deficit and cut operational spending.

“It is with a heavy heart that we share a series of difficult but necessary changes to reduce our ongoing and significant structural deficit. We are restructuring, cutting operational spending, and reducing the size of our team by 10% and will say goodbye to many talented colleagues,” Theoharides’ statement read. “The reduction in workforce and other spending cuts will effectively address this deficit and put The Trustees on course for a sustainable future. Please know that there are no plans for additional layoffs after today.”

Theoharides said that global inflation, as well as high labor and supply chain costs coming out of the COVID-19 pandemic, factored into the growing deficit and ultimate decision to implement change.

“This restructuring was necessary to address a multi-million-dollar structural deficit in our operating model that we have been carrying for the past several years. The reduction in workforce and other spending cuts will effectively address this deficit and put The Trustees on course for a sustainable future,” the statement continued.

Theoharides’ announcement comes despite a fiscal report published in 2022 that stated The Trustees had “emerged strongly from the pandemic, despite a variety of challenges.”

“Our year-over-year growth was robust,” the report stated. “Operating revenue grew by nearly 20% over 2021 as COVID-related restrictions eased.”

Theoharides took over as president and CEO of The Trustees in 2023 after previously serving at the Massachusetts Executive Office of Energy and Environmental Affairs and as cabinet secretary to former Gov. Charlie Baker. The Trustees

Moving forward, Theoharides vowed that The Trustees will remain the preeminent conservation organization in New England.

All of the properties overseen by The Trustees will remain open and accessible to the public.

This is a developing story. Check back for updates as more information becomes available.

Download the FREE Boston 25 News app for breaking news alerts.

Follow Boston 25 News on Facebook and Twitter. | Watch Boston 25 News NOW

©2024 Cox Media Group