Truro and Penwith College plans redundancies amid £4.2 million deficit

The Royal Academy of Arts (RA) is considering cutting 60 jobs, approximately 18% of its workforce, due to significant financial challenges stemming from visitor numbers not rebounding to pre-pandemic levels. The institution, which does not receive direct government funding, has reported a drop in attendance from 1.25 million before the pandemic to only 622,000 in 2024. Similarly, Truro and Penwith College in Cornwall is facing potential redundancies as it navigates a £4.2 million budget deficit attributed to rising costs and insufficient government funding. The college is undergoing a strategic review of its operations to enhance financial efficiency, which may lead to unavoidable job cuts despite efforts to manage costs without impacting staff. Both institutions highlight the broader financial pressures affecting cultural and educational organizations across the UK. They emphasize their commitment to maintaining quality services while addressing financial sustainability.