NYC's Central Park Conservancy Cuts 30 Jobs as It Trims Spending
- Organization had a $34 million operating loss in fiscal 2016
- Billionaire Paulson donated $100 million to the park in 2012
Central Park in 2010
Photographer: Keyur Khamar/BloombergThis article is for subscribers only.
New York’s Central Park Conservancy, a private nonprofit organization that manages and raises money for the park, cut 30 jobs to help trim annual spending by about 7 percent.
The conservancy, created in 1980 to save the 843-acre (341-hectare) tract from years of underfunding and neglect, had an operating loss of about $34 million for the year ended June 30, 2016, according to its financial statement. The organization, which provides 75 percent of the 160-year-old park’s $67 million operating budget, employed about 400 before the cuts.