Prince Harry and Meghan Markle are continuing to tighten their financial belt, reportedly laying off more employees in a bid to reduce expenses.
According to Page Six, the Duke and Duchess of Sussex have now let go of 25 staff members since their move to the U.S. in 2020. The latest layoffs include their two in-house public relations representatives, with the couple opting to outsource their PR needs to an external firm instead — a move insiders say will significantly cut costs.
“It’s the same old story – they cycle through staff as quickly as normal people cycle through toilet paper. Milk lasts longer than their employees,” a royal insider told the outlet.
An industry expert noted, “From a financial perspective, hiring a PR agency is far cheaper than maintaining full-time in-house staff.”
The couple’s annual expenses remain substantial. Their Montecito estate, purchased for $14.65 million in 2020 and now valued at $27 million, comes with a yearly property tax bill of $288,000. They also face an estimated $2 million annual security cost. Reports suggest they made a $5 million down payment on the mansion and took out a $9.5 million mortgage, expected to be paid off by 2050.
In addition to their home staff, Harry and Meghan also employ personnel at their Archewell Foundation and their production ventures — all of which add to the financial load they're now looking to streamline.
