Salary cuts at Academy of Natural Sciences

March 13, 2009 8:28:28 AM PDT
Blaming the sour economy, the Academy of Natural Sciences in Philadelphia announced salary cuts Friday in an effort to preserve jobs and maintain current operations.In a written statement, Academy President and CEO William Y. Brown said staff salaries throughout the museum would be reduced overall by about 5% starting April 1st.

The cuts will be tiered, Brown said, with his salary being cut 10%, and other salary cuts scaled down to 4%, based on salary level.

People making $30,000 per year or less will not be affected.

The Academy also said that its endowment has fallen from more then $60 million in early 2008 to less than $40 million currently.

The Academy is preparing to celebrate its 200th anniversary in 2012.

RELATED: Academy of Natural Sciences website.

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