Pace Gallery is reducing its operations, cutting 50 artists from its roster of about 135 and eliminating 50 positions from its roughly 250-person staff, according to reports including The New York Times, as summarized by Artforum and Hyperallergic. Coverage describes the changes as part of a broader restructuring in response to uncertainty in the art market and challenges facing large commercial galleries. The Financial Times characterizes the move as a sign that the mega-gallery model is becoming less stable, citing CEO Marc Glimcher’s view that the system is “broken.” Hyperallergic links the cuts to wider market pressures and to fallout from crypto-backed art ventures, noting Pace’s earlier involvement in that financing approach. Artforum also reports timing and internal communication issues, stating that one account of the layoffs circulated before Pace informed staff and that management plans to address concerns at an upcoming town hall. Across outlets, the central points are the scale of the roster and staffing cuts and the gallery’s rationale that the current gallery business model is not working as intended.
Pace Gallery cuts 50 artists and 50 staff, citing a “broken” gallery model
Pace Gallery is reducing its operations, cutting 50 artists from its roster of about 135 and eliminating 50 positions from its roughly 250-person staff, according to reports including The New York Tim...
- Pace Gallery cuts 50 artists from its roster of about 135.
- Pace Gallery eliminates 50 staff positions out of roughly 250.
- Multiple outlets cite Pace’s rationale that the gallery model is “broken.”
- Reporting links the decision to broader art-market uncertainty.
- One report connects the cuts to the collapse of crypto-backed art ventures, noting Pace’s early involvement.
One of the commercial art world’s “big four” is scaling back, and CEO Marc Glimcher believes the system is broken
2 months agoThe layoffs and reductions come amid ongoing market uncertainty and the disastrous collapse of crypto-backed art ventures, of which Pace was an early adopter.
2 months agoThe layoffs and reductions come amid ongoing market uncertainty and the disastrous collapse of crypto-backed art ventures, of which Pace was an early adopter.
2 months agoPace Gallery has dropped fifty artists from its roster of 135 and eliminated fifty of its 250 staff, the New York Times reported late last night. Artnews reported that the Times story ran before Pace had notified staff of the layoffs and that management planned to address the issue at a town hall slated for […]
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