In a sign of how the Coronavirus pandemic may be affecting churches and Christian organizations, LifeWay Christian Resources announced they will cut their budget by $25-30 million for the rest of 2020. LifeWay, the publishing arm of the Southern Baptist Convention, will realize the cuts through hiring freezes, spending freezes, salary cuts, and layoffs, the Baptist Press reports.
LifeWay was enjoying a strong start to 2020, as they were 3 percent ahead of budget at the end of March. However, the shutdown of churches during the pandemic took its toll over the last five weeks and revenues fell 24 percent. Lifeway officials attribute the loss in revenue to a drop in orders from churches for Sunday School curriculum, Bible study books, and VBS curriculum.
LifeWay CEO Ben Mandrell addressed the budget cuts, explaining that these cuts are necessary to ensure the organization’s long-term viability. He said, “We hope these proactive steps will allow Lifeway to continue ministering to churches throughout the crisis, however long it lasts, and long into the future.” He added, “We know the COVID-19 crisis has created a unique challenge for churches as they find new ways to gather, and many are also facing severe financial strains. We want to make sure Lifeway is in a position to continue serving churches and church leaders to help them fuel their ministries,” Christianity Today…
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