The Museum of Modern Art is offering voluntary buyouts to staff members who are 55 or older and who have served at the museum for at least nine years as of July. Despite a recent gift of $100 million from entertainment executive David Geffen (the largest in the museum’s history), MoMA explained in a statement that the museum’s forthcoming expansion and renovation will involve reduced museum operations. The building project, which will add 50,000 square feet of new gallery space to the museum, will be designed by Diller Scofidio + Renfro.
This news comes a week after the Metropolitan Museum of Art also announced plans to lay off staff members due to its $10 million deficit. In a statement, MoMA commented.