Another 74 jobs will be cut from the merchandising staff at the Metropolitan Museum of Art. This is in addition to the 53 jobs that were cut over the last year. It is feared that a total of ten percent of the museum staff, or a total of 250 jobs, will be cut from the staff of roughly 2500 employees by the summer. The endowment of the museum has dropped in value approximately 800 million dollars, the museum will be receiving less operating help from the city, there has been a drop in attendance that affects other sources of income such as parking fees and business at the museum restaurant, and membership renewals have seen a decline as well. The hemorrhaging is continuing for American museums with layoffs and budget cuts occurring at the Cincinnati Art Museum, the Detroit Institute of Arts, the Indianapolis Museum of Art, the Museum of Contemporary Art in Los Angeles and the High Museum of Art in Atlanta. Harold Holzer, a spokesman for the Met, has stated that it is their goal that the cuts will not impact everyday operations of the museum.
primary source: The New York Times