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.
The blog has suggested alternatives to layoffs, including asking the 11 volunteer trustees to contribute money and cutting the pay of top executives.
Wood, at $1.11 million, and Williams, at $1.28 million, were last year's top earners, with seven others making from $397,000 to $906,000, according to documents posted on the Getty website in keeping with the trust's policy, adopted in the wake of a mid-decade scandal over improper spending, of being unusually open and detailed about its finances.
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