Shrinking Endowments Force Guggenheim to Lay Off Eight Percent of Staff

The Guggenheim is the latest museum foundation to publicly suffer this rocky economic climate, having just announced that they will be laying off eight percent of their workforce, or twenty-five people in total. In addition, as has become par for the course since things took a turn toward the grim last year, they will be cutting back on any and all expenses in an attempt to hopefully keep everything afloat for a bit longer. All of this, of course, is due to the Guggenheim losing a healthy chunk of their regular endowments, like what’s happening all across the board in the industry.