Pace Cuts 50 Workers and 50 Artists, Citing a “Broken” Gallery Model

Pace Cuts 50 Workers and 50 Artists, Citing a “Broken” Gallery Model

Just years after inaugurating its $100 million flagship building in Manhattan’s Chelsea neighborhood and positioning itself as a leader in the crypto art space, Pace Gallery has cut 50 artists from its roster and laid off 50 staff members in what CEO Marc Glimcher characterized as a “model correction.”  The gallery’s roster of artists will decline by 30%, while staff will be reduced by about 20%, from 250 to around 200 employees, as reported by …

Comment | As Pace slashes business, could shrinking be the next growth model?

Constant expansion and rising prices in the primary market necessary for a mega gallery are "unfixable", says chief executive Marc Glimcher

Citing “Unfixable” Gallery Model, Pace Makes Deep Cuts to Artist Roster, Staff

Pace 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 […]

FAD NEWS: Pace Gallery to cut around 50 Artists & 50 staff in major restructuring

Pace Gallery plans to cut around 50 artists and 50 staff positions as part of a major restructuring, signalling a shift in the mega-gallery model.

Mega Gallery Pace is Dropping Some 50 Artists, 50 Staff in ‘Model Correction’

Pace Gallery, a mega gallery with seven locations worldwide, is laying off some 50 staff and dropping about 50 artists. In a statement to ARTnews Thursday, CEO Marc Glimcher said that the gallery will now focus its roster on 85 artists, after growing to 135 and will “continue to be a global gallery” with plans to “ground their programs in the character of the local art scene.” “Galleries need a model correction,” he said. “For Pace, this mea…