Cuts since 2012

by pepperheart 10 Replies latest watchtower bible

  • DesirousOfChange

    I think the WTS is focused on building an endowment fund to relieve them from having to depend primarily on voluntary donations that are greatly affected by financial downturns, as well as negative publicity (consider all the JWs that reportedly have quit donating). The WTS was Real Estate rich and at the same time Real Estate poor. Their Real Estate holdings were worth billion(s) in the asset column, but produced NO income. In fact, the aged Real Estate was a constant drain on cash, as it was not energy efficient and it required constant repairs and updating.

    Everything we have seen in the last decade(+/-) has been about cashing in on non-liquid assets (one-time massive RE sell off, demand for all Cong savings to be donated -- vs. just loaned to Society), cutting fixed expenses as deeply as possible/reasonable (elimination of DOs, SPs, 50% of staff(est), and at the same time a huge reduction in costs by a more than 50% reduction in the product they produce (literature). All the while they are implementing plans that will increase the steady, dependable flow of cash/income (fixed donations from Assms and all Congs) and even an increase in the voluntary giving (by their shameless begging).

    No doubt much/most of the cash will be funneled off-shore to foreign WTS "charity" holdings where it is safe from the (mostly US) lawsuit settlements and lawyers while they persevere through the storm of lawsuits. These will eventually end as (despite what many here think) the WTS is now vigorous about reporting child abuse when State law requires it, though it may be anonymously and every effort will be made to keep the WTS/HQ out of the matter. Even their stubborn stance to deny error in the ARC is an effort to limit liability and stop the bleeding from litigation. If they (WTS/HQ) admit error (negligence) in a public forum in Australia (or anywhere), it will be quoted and used against them anywhere/ everywhere else (esp USA) in all future litigation. The bottom line is to protect the assets. They see it as protecting "God's valuable things".

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