The museum has suffered from rising costs and lower attendance. The cuts followed those at the Brooklyn Museum, which trimmed 10 percent of its staff this month.
Category: Finances
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Joann, 80-Year-Old Crafts and Fabrics Retailer, Will Close All Stores
The announcement that the chain would close all 800 of its stores in 49 states comes after a period of financial turmoil.
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Chinese Hospital Bankruptcies Soar Amid Financial Strains
Still recovering from heavy spending during the pandemic, hospitals are squeezed by a slumping economy and government efforts to curb health care spending.
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Brooklyn Museum Will Lay Off Employees and Scale Back Exhibitions
The museum, which faces a projected $10 million deficit, said it planned to cut more than a tenth of its employees and mount fewer exhibitions.
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In San Antonio, an Orchestra Was Reborn. Can It Endure?
The San Antonio Philharmonic was formed after the demise of the city’s 83-year-old orchestra in 2022. But rebuilding has not been easy.
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Jeffrey Epstein’s Estate Got a $112 Million Tax Refund
The estate’s assets have swelled to $145 million, a probate court filing in the U.S. Virgin Islands shows. Much of that won’t make its way to Mr. Epstein’s victims.
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Andreessen Horowitz, Benchmark and the Transformation of Venture Capital
The opposing paths taken by two powerful firms — Benchmark and Andreessen Horowitz — embody a profound debate about the future of an industry that funds and fosters American innovation.
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What if Charity Shouldn’t Be Optimized?
The recent trend in philanthropy has been to look for the most bang for your buck. Maybe you don’t have to.
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Boeing Seeks to Line Up Billions in Financing as Strike Goes On
The aerospace giant said it could raise as much as $25 billion in debt or equity over the next three years, including a $10 billion line of credit.
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An Oasis in England’s Troubled, Polarized Opera Landscape
The Glyndebourne Festival, which receives little government support, has been mostly immune from recent convulsions of the opera industry in Britain.
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Coppola’s ‘Megalopolis’ Plays to Near-Empty Theaters
Francis Ford Coppola spent roughly $140 million on the film, which debuted to an estimated $4 million in weekend ticket sales.
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A Bargain at the Opera: Philadelphia Offers All Seats for as Low as $11
Seeking new audiences, Opera Philadelphia is putting in place a pay-what-you-can model, one of the first of its kind by a major opera company.