Royal Academy could cut 60 jobs amid ‘serious financial challenge’ | Royal Academy of Arts

The Royal Academy of Arts (RA) could axe 60 roles as part of a cost-cutting exercise, with leaders admitting it is facing a “serious financial challenge” after visitor numbers failed to recover to pre-pandemic levels.

The institution blamed “increasing costs and changing visitor behaviours” for the move, which could lead to about 18% of the RA workforce losing their jobs.

“No decisions have been taken and this is subject to consultation,” said a spokesperson, who confirmed that half of those positions were current vacancies, meaning 30 existing roles could go after the consultation process.

The spokesperson said: “Cost savings are required to sustain its position in the future.”

The institution, which unlike other similarly sized organisations in London does not receive direct government funding, is in the midst of one of the most challenging moments in its recent history.

The RA is yet to install a permanent chief executive after Axel Rϋger left in 2024, and it is the latest British cultural institution to come under severe financial pressure, triggered in part by reduced visitors numbers since the start of the Covid-19 pandemic.

It has struggled to return to its pre-pandemic visitor figures of 1.25 million a year. The number of visitors almost halved when it reopened its doors in 2022, before increasing in 2023 to 710,000 visitors. But in 2024 the attendance slumped to 622,000.

Last year the Department for Culture, Media and Sport’s annual report said: “Public bodies may face financial sustainability issues due to several years of economic pressures.”

The RA’s annual report for 2023-24 states that it was “facing a material reduction in income from exhibition admission and other on-site sources of income for at least the next three years”, adding that “it would take longer to return to pre-pandemic levels of income”.

Natasha Mitchell, the interim secretary and chief executive of the RA, told the Art Newspaper: “Together with many in the arts sector, we are facing a serious financial challenge. We have a robust plan to improve the RA’s financial position and the proposal to reduce our workforce has been put forward after careful consideration.

“We understand the profound impact these proposed changes will have and we are committed to supporting affected employees through this transition. This is a challenging time for all involved, however it is our belief that these steps are critical for ensuring a sustainable future for the RA.”