Summarize this content to 2000 words in 6 paragraphs in Arabic Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The Tate is cutting back close to a tenth of its staff as the eminent British arts institution races to break even ahead of fundraising rounds this year to support its plans for growth, according to people familiar with the situation. About 40 roles — about 7 per cent of the Tate’s workforce — had been affected by the cuts that had been made entirely through voluntary departures and recruitment freezes, the people said. The Tate, which has four galleries in London, Liverpool and Cornwall, said the move would “eliminate the deficit that many museums like Tate have borne since the pandemic”.“The changes that have been put in place ensure Tate can continue to deliver groundbreaking programmes, build and share our collection with the broadest possible public, and inspire future generations of creative talent,” it said.Tate bosses are embarking on a number of major investments this year, and want to raise funds from private and corporate benefactors. Tate already has corporate partnerships with Hyundai, Uniqlo and Gucci. Tate Liverpool is undergoing a major redevelopment supported by government and private funds, including new galleries to bring large-scale contemporary works from the national collection to Liverpool for the first time.In St Ives, the Tate is restoring the Palais de Danse, Barbara Hepworth’s second studio space, which has been untouched since her death. At the Tate Modern, its 25th birthday in May will be celebrated with free performances and events, as well as the return to the Turbine Hall of Louise Bourgeois’s spider Maman, which opened the gallery in 2000.Maria Balshaw, director of Tate and chair of the National Museum Directors’ Council, said that to “eliminate the deficit left over from the pandemic”, the Tate has “carefully streamlined our workforce through voluntary means”, strengthened new income streams, prioritised its most impactful activities. Museums and galleries have been hit by a fall in international visitor numbers compared with levels before the Covid pandemic, although domestic numbers have returned to previous levels. Overall visitor numbers have increased from 5.99mn in 2022-23 to 6.36mn in 2023-24, but this was still only about three quarters of pre-pandemic levels. In its financial results for 2023-24, the Tate’s trustees approved another deficit budget for the year ahead, using unrestricted general reserves generated in 2021-22 and 2022-23. This was blamed on income not increasing in the wake of the Covid crisis at the same pace as the cost base.The decision to approve a deficit budget was made to give Tate the time to develop a new financially sustainable business model, the accounts show, to support the organisation’s “strategic objectives”. The wider British cultural sector is under pressure to rein in costs given a squeeze in budgets for museums, galleries and other institutions. The University of Warwick, with the Campaign for the Arts, found that the government had cut culture budgets by about 6 per cent since 2010.Tate is funded both through government grants as well as private fundraising, including corporate support, philanthropic donations and legacy bequests. It also makes money from exhibition tickets sales. About 70 per cent of income is raised from non-government sources.Tate is governed by a board of trustees chaired by Roland Rudd, the founder of Finsbury, a global communications consultancy now part of FGS Global. Balshaw is appointed by the board with the approval of the prime minister. Tate is an executive non-departmental public body sponsored by the Department for Digital, Culture, Media and Sport.
