Getty Trust forced to slash budget

LOS ANGELES /*Getty Trust*/ President James Wood told the /*L.A. Times*/ that investment losses total $1.5 billion since July.

The Getty, the world's richest arts institution, relies on investment earnings to pay for its two L.A. art museums, as well as global research, grants and art conservation operations.

The Getty may be forced to cut temporary exhibitions and defer buying new works for some collections.

Getty's leaders and trustees will decide what cuts to make by the end of May.

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