Dear Colleagues,

I am writing to report on the impact of the COVID-19 crisis on Getty’s operations and finances, and to reiterate Getty’s leadership’s commitment to its employees. I also will report on the status of employee pay increases planned for July 2020.

Everyone working in arts and culture is concerned about the impact of this crisis on our peer institutions – museums, performing arts organizations, and academic research organizations. In the context of closures, furloughs, and layoffs at other institutions, many of us, understandably, feel anxious about how the crisis will affect your jobs, livelihoods, and futures.

Let me start addressing these concerns by restating Getty’s principles for responding to the COVID-19 crisis.

First, Getty is committed to protecting the health and safety of its employees and members of the public, and to slowing the spread of coronavirus. Getty has cancelled all of its public events and closed the Getty Center and Getty Villa to the public until further notice. Many of us are working from home, both to continue our important work and to enable those employees needed on site to protect our property and collections safely. We will reopen only when it is clear from public health authorities it is safe to do so.

Second, Getty is committed to sustaining our employees and infrastructure so that we can restore normal operations when the crisis eases. Getty employees are being paid, with full benefits and, if needed, additional paid sick leave. This is true whether you are working on site, working from home, or not working. It is our intent to maintain this policy for the duration of the immediate crisis. We have no plans for furloughs, layoffs of employees, or salary reductions.

Getty is able to provide this support because, unlike many other arts organizations, we are not highly dependent on admission fees or other operating revenue for our ongoing support. Instead, Getty derives almost all of its financial support from its endowment, which is managed prudently, with careful oversight.  But we have not been immune to the decline in financial markets. Even though the endowment’s value has decreased in recent weeks, Getty remains an organization with significant financial resilience. I remain confident in our ability to sustain ourselves in the long-run.

 Notwithstanding our long-term financial strength, there is great short-term economic volatility, and uncertainty about the severity and duration of this crisis. As a result, we must exercise caution and restraint regarding our spending. I am working with the management of Getty’s programs and departments to identify activities that can be curtailed or delayed without creating harm to our mission or ongoing operations. Among other decisions, we have instituted an indefinite freeze on new hiring.

As part of this process, Jim Cuno and I recommended to the Board of Trustees that the pay increases planned for July 1 be cancelled. This decision will not affect employees’ current pay levels. The Trustees have concurred with this recommendation. I hope you will understand it that it is a step we can take now that will help us protect your jobs and our mission in the long-run.

Although raises for FY21 will not take place, our annual performance appraisal process is an important communication and feedback tool, and an opportunity to discuss future goals. Therefore, all employees are expected to complete performance reviews as would otherwise take place.

These are unprecedented and challenging times, and we are fortunate to have a strong community of employees, who have demonstrated such dedication to your work and our shared mission these past weeks.  We are also fortunate to be able to weather this crisis and the ensuing financial uncertainty with a much more positive outlook than many of our peers.  Please accept my gratitude for the commitment and courage all of you have demonstrated during these past weeks.

Sincerely,

Steve Olsen
Chief Financial Officer and Chief Operating Officer