Metropolitan Museum of Art Announces 74 More Job Cuts Amid Financial Crisis

The Metropolitan Museum of Art is eliminating 74 positions from its merchandising staff, adding to 53 jobs cut over the previous year. By summer, approximately 250 positions—representing 10% of the museum's 2,500 employees—are expected to be eliminated. Financial pressures include an $800 million drop in endowment value, reduced city operating support, declining attendance, and lower membership renewals. Reduced parking fees and restaurant business have also hurt revenue. Spokesman Harold Holzer stated the museum aims to avoid impacts on daily operations. Similar layoffs and budget cuts are affecting institutions nationwide, including the Cincinnati Art Museum, Detroit Institute of Arts, Indianapolis Museum of Art, Museum of Contemporary Art in Los Angeles, and High Museum of Art in Atlanta. The New York Times reported these developments on March 13, 2009.