Now that new man-in-charge Charles Young is leading Los Angeles' Museum of Contemporary Art into a newly-resurrected financial future, there were bound to be cuts in the interest of streamlining. So it was as the museum announced that it will be undergoing fairly sizable layoffs and budget trimming in order to try and keep the ship afloat (or so they don't have to come crawling back to Eli Broad for more millions again anytime soon). Here's a bit:

The museum said it plans to reduce its staff by 20 percent and trim operating expenses to obtain an annual savings of about $4.4 million. The decision, which eliminates 32 full- and part-time jobs, was made to help restore the institution's financial health, according to a statement released by the museum.