Metropolitan Museum of Art Director Thomas Campbell plans to reduce major loan exhibitions by around 25 percent in future years to rein in costs during difficult economic times. Campbell’s predecessor in the post, Philippe de Montebello, had scheduled some shows into 2013, so the cutback will not happen immediately, although two exhibitions have already been delayed until the next fiscal year to save money.

In recent years, the museum has been showing 30 to 35 special exhibitions, 10 to 12 of which have featured major, expensive loans. In an interview with the Art Newspaper, Campbell did not reject the possibility of charging additional admission fees for special exhibitions, a practice common at many museums but one that the Met has long avoided. The Met has seen its endowment shrink by 25 percent since summer 2008 and has responded by decreasing its budget from $220 million to $206 million. It has also shed about 14 percent of its workforce through attrition, early retirements, and layoffs.