Monday, May 21, 2018
One of America's Great Newspapers ~ Toledo, Ohio


Indianapolis Museum of Art eliminates 29 jobs in effort to cut costs, reduce endowment draw

INDIANAPOLIS — The Indianapolis Museum of Art has eliminated 29 jobs as part of a cost-cutting move designed to reduce the museum's reliance on its endowment for financial stability.

The Indianapolis Star reports 19 full-time and two part-time employees were dismissed today. Eight open positions won't be filled.

The cuts affect all departments and represent 11 percent of the museum's staff.

Museum CEO Charles Venable has said he wants to cut annual spending by $2 million and find ways to reduce the amount the museum must draw from its endowment to cover operating expenses.

The endowment was valued at $326 million last June, but only $203 million was available for operating expenses.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2018 Toledo Blade

To Top

Fetching stories…