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MoMA Slashes Budgets, Staff, Exhibitions

VISUAL Posted: May 7, 2020 9:31 am

Before the shutdown, the museum had around 960 staff members, director Glenn Lowry said. Through a combination of voluntary retirement packages and general attrition, the new staff count will be about 800. “We will learn to be a much smaller institution,” he said. The museum administration also took what Lowry described as a “chainsaw” to its exhibition budget, cutting it from $18 million to $10 million for the fiscal year that begins July 1 and runs through June 30, 2021.  It also cut its publications budget by about half. Overall, the museum will have slashed its annual budget to about $135 million, from close to $180 million. – Bloomberg

VISUAL Published: 05.07.20

Read the story in Bloomberg Published: 05.07.20

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