Getty Trust Cuts 200 Jobs

The J. Paul Getty Trust, which operates the $1.3 billion Getty Center in Los Angeles and the Getty Villa in Malibu, California, will cut 205 jobs due to a shrinking endowment.

Layoffs will affect 97 employees; the rest of the positions will be eliminated. The Trust employs almost 1,500 people at the two museums.

The J. Paul Getty Trust is the world’s wealthiest art institution, with an estimated endowment in December 2008 of $4.5 billion. Based in Los Angeles, California, it also operates the Getty Foundation, the Getty Research Institute, and the Getty Conservation Institute.