Digital art giants Artnet and Artsy have implemented significant layoffs following their recent merger under the investment firm Beowolff Capital. The cuts, which occurred on April 16, impacted dozens of employees across both organizations, including senior editorial staff such as Sarah Cascone and Eileen Kinsella. The restructuring follows a reported 12% revenue decline for Artnet in early 2025 and involves the shutdown of Artnet's German entity as the two companies consolidate into a single team led by CEO Jeffrey Yin.
This consolidation marks a major shift in the art world's digital landscape, signaling the end of Artnet's 25-year run as a public company and highlighting the financial volatility of art journalism. While the merger aims to create a unified marketplace and data powerhouse, the immediate loss of veteran reporters suggests a pivot away from editorial depth in favor of core commercial products. The news arrived alongside several major industry updates, including the artist list for the fourth Toronto Biennial and new curatorial appointments at the Denver Art Museum.