London's National Gallery announces staff cuts to reduce an £8.2 million deficit

The National Gallery in London has announced the launch of a plan to cut staff and reduce programs, following a projected deficit of 8.2 million pounds (about 9.44 million euros) in the 2026/27 budget. The decision, as Artnet reports, follows the adoption of a voluntary exit program for employees, which will offer financial incentives to those who decide to leave the institution. Applications will be accepted until March 16, with the process concluded by the end of the following month. According to reports in the newspaper, the staff cuts are expected to reduce the deficit by about 2.6 to 3 million pounds (about 2.98 to 3.44 million euros), with the number of employees involved determined by the salaries of participants. The additional funding shortfall will be offset through other measures, including changes to the institution’s public programs and activities. The National Gallery currently receives 32 million pounds a year (about 36.7 million euros) in government funding, an amount considered unlikely to increase substantially.

As Artnet reports, the museum cited rising operating costs, commercial pressures and the impact of the cost of living crisis on potential visitors as the main causes of the deficit. Overall, the recovery in attendance at UK museums since the pandemic has remained modest, while reduced government spending has exacerbated the cultural sector’s financial difficulties. For the National Gallery, these are difficult and painful but necessary decisions to ensure long-term financial sustainability. Areas of future spending that could be reviewed include large-scale public programs. Last year, the museum concluded its bicentennial celebrations, NG200, by announcing that it had raised 375 million pounds (about430million euros) out of a target of 750 million (about 858 million euros) for Project Tomorrow, the project to build a new building to display modern art. The National Gallery clarified that both NG200 and Project Tomorrow have constrained budgets.

London's National Gallery announces staff cuts to reduce an £8.2 million deficit

Warning: the translation into English of the original Italian article was created using automatic tools. We undertake to review all articles, but we do not guarantee the total absence of inaccuracies in the translation due to the program. You can find the original by clicking on the ITA button. If you find any mistake,please contact us.