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Royal Academy plunged into financial crisis amid plummeting visitor numbers as iconic art institution announces nearly 100 redundancies

The prestigious art institution in central London is getting rid of staff in a bid to secure its future amid plummeting visitor numbers and a lack of revenue following the coronavirus pandemic.



The Royal Academy is facing a financial crisis due to a 40% drop in visitor numbers since pre-pandemic levels, resulting in the announcement of 94 redundancies (nearly a third of its workforce). The institution is exploring various strategies to increase revenue, including changes to exhibitions, increased art sales and membership drives.

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