Corporate Leaders Tout Philanthropy's Benefits Amid Grim Financial News

“We had to find a way to address this current crisis within our budget,” he said. “We found a way to cut some programs and reduce the funding to some others. Everybody got a little bit of a hair cut.”

While Mr. Moore, of the Committee Encouraging Corporate Philanthropy, said some companies are laying off employees at their foundations and corporate-social responsibility programs, none of the four businesses represented on Monday said they had cut such jobs.