"The National Gallery in London is preparing to make "difficult and painful decisions" to address a projected £8.2 million ($11.2 million) budget deficit. These cost-saving measures will include significantly reducing its staff and reconsidering aspects of its program. The museum cited rising operational costs, commercial pressures, and the effect of the cost-of-living crisis on potential visitors, as two of the reasons for the projected deficit in the 2026/27 fiscal year."
""The National Gallery cannot remain operationally secure without a strategic reset," the museum said in a statement. "To achieve sustainability, we must balance our artistic and educational mission with a new operating structure." Staff cuts are expected to reduce the deficit by around £2.6 million-£3 million ($3.5 million-$4 million). The number of staff affected will therefore depend on the salaries of those affected."
The National Gallery faces a projected £8.2 million deficit for 2026/27 and plans significant cost-saving measures. Rising operational costs, commercial pressures, reductions in public spending, weak museum footfall since the pandemic, and the cost-of-living crisis are cited as drivers of the shortfall. Staff reductions are expected to cut about £2.6–3 million from the deficit, with the remainder covered through program changes and cuts to major expenditures. A voluntary exit scheme offers financial incentives and accepts applications until March 16, concluding at the end of next month. The institution intends a strategic reset to balance artistic and educational missions with a new operating structure.
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