Getty Trust to Slash Budget as Investments Tumble
Its portfolio dropped 25% during the last half of 2008, from $6 billion to $4.5 billion.
By
Mike Boehm
Facebook
Facebook
Twitter
Twitter
LinkedIn
LinkedIn
Email
Email
0 Comments
Comments
The human factor in this unhappy numbers game is apparent at www.silencedogetty.blogspot.com, where nervous and sometimes angry Getty staffers have been venting anonymously since Feb. 21. "The frustration and fear was palpable" after a round of layoffs last spring, the blog's pseudonymous founder wrote then, and had intensified since December, when Wood issued his memo that further cuts were coming. Wood said Friday that the layoff of 47 workers then, plus the elimination of 77 vacant positions, wasn't done to save money but to "reallocate" resources after a yearlong examination of the trust's priorities.
0 Comments
View Comments
Mike Boehm
Author's page
Related Content
Comments