The Newseum laid off 10 percent of its staff Tuesday as part of efforts to improve its financial stability, according to The Washington Post.
The journalism museum on Pennsylvania Avenue NW in the District laid off 26 workers in total, according to the report. President and Chief Executive Jeffrey Herbst declined to tell the Post what positions were cut and what the savings would be.
“I’d rather not go into the specifics. We did this strategically in order to make sure we have resources. We want to make sure we are on firm financial footing,” Herbst, who joined the museum in 2015, told the Post. “We are accelerating our efforts to raise money … and taking the necessary steps to make sure our finances are sound.”
The museum moved from Rosslyn to its massive building at 555 Pennsylvania Ave. NW in 2008 and has now had four staff reductions since 2009.
The museum continues to lower its annual expenses, from $67 million in 2013 to $61 million in 2015, according to the report.…Read the full story from the Washington Business Journal.