Philadelphia’s Academy of Natural Sciences announced this morning
that it will cut salaries by 5 percent for all workers earning more than
$30,000 a year. Carolyn Belardo, a spokeswoman for the academy, which has a $13 million budget, says the move will save the organization $317,000 annually.

The academy’s endowment and other investments, once valued at $60 million, have lost a third of their values due to the stock market’s decline.

Academy President and CEO William Brown said in a statement that the organization is seeing less in corporate giving, and museum attendance also is down.

Today’s news follows Wednesday’s announcement by the Philadelphia Orchestra that it will lay off 12 workers and leave other positions unfilled. The Orchestra says the move will save $900,000. Last month, the Philadelphia Museum of Art eliminated 30 administrative positions.