Indianapolis Museum of Art trims 11 percent of staff in cost-saving move
New CEO helped develop plan
(Photo courtesy: IMA)
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Posted: 03/04/2013
Last Updated:
78 days ago
INDIANAPOLIS - The Indianapolis Museum of Art is trimming more than 20 positions in a cost-saving move.
As part of a plan proposed by new Director and CEO Charles L. Venable, 19 fulltime positions and two part-time positions were eliminated Monday, while another eight open positions won't be filled, the museum said.
The restructuring amounts to an 11 percent reduction in personnel and places a greater focus on donated and earned revenue, Venable said.
"These are difficult changes, but it is imperative that we reduce our reliance on the endowment so future generations can benefit from it," Venable said in a news release. "In my opinion, endowments ideally should not be used to support more than 50 percent of operations as a rule, with the other half being supported through donations and earned revenue. It pains me greatly that we have to make staffing reductions at this juncture, but it was clear that they were necessary."
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