Pace Gallery is cutting its workforce from approximately 250 to 200 staff and dropping up to 50 of its 135 artists, including teamLab, David Goldblatt, and Grada Kilomba. CEO Marc Glimcher described the current mega-gallery model as “unfixable,” citing unsustainable expansion and rising primary market costs. The gallery will maintain its global presence across seven locations, though it has not confirmed any space closures. This move follows the closure of Tiwani Contemporary in London and Lagos, whose founder Maria Tanava cited rising operational costs and market uncertainties.
This shift signals a potential industry-wide pivot from the mega-gallery growth model toward a “less-is-more” strategy, echoing survival tactics from the early 1990s. As smaller galleries struggle with rising costs and market volatility, Pace’s downsizing may become a template for sustainability. However, the article questions whether shrinking alone can address systemic challenges, especially as larger competitors leverage technology and scale. The trend underscores the fragility of traditional gallery systems in a fast-paced, noise-filled art world.