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July 18, 2016

Met Museum to Lose at Least 100 Jobs in Belt-Tightening

The Metropolitan Museum of Art said Friday that 56 employees had accepted buyouts, with more reductions to come as the institution aims to head off $30 million in red ink, reports The New York Times. Met officials said the belt-tightening will claim at least 100 of the museum's 2,300 jobs and could cut into the exhibition schedule.

Curatorial and conservation positions could be reduced by 5 percent, administrative employees could see cuts of 15 to 20 percent, and the number of annual exhibits may be reduced to 40 from 55. The museum launched the buyout program three months ago to kick off a two-year restructuring officials said was necessary to keep this year's $10 million budget deficit from ballooning to $40 million.

New York's Museum of Modern Art and Brooklyn Museum also announced cuts Friday, saying that said 42 and 24 staffers had taken buyouts, respectively, according to The Wall Street Journal.