Met Museum to Restructure as Deficit Looms
- April 21, 2016 23:38
The Metropolitan Museum of Art has about 2,200 employees, an operating budget of about $300 million, a $2.8 billion endowment, and attracts around $6.3 million visitors per year.
Despite the numbers, museum officials say the Met is facing a deficit of $9 million to $10 million, and perhaps up to $40 million over the next 18 months if spending is not decreased. Lay offs could be looming.
Among the year's big expenses --- the opening of the annex called Met Breuer, and the musuem's planned $600 million renovation of its southwest wing.