GLASGOW, Scotland—The staff at the Lighthouse art and design center here has been cut almost in half in an effort to save the organization, which last year was placed under administration — meaning it will be run by a bankruptcy specialist for the benefit of its creditors — because of a £300,000 ($487,000) budget deficit. PricewaterhouseCoopers, which is overseeing the situation, announced Tuesday that 24 of 57 positions would be eliminated immediately to reduce overhead costs.

Last year, the Glasgow City Council presented the Lighthouse with a £50,000 rescue package in combination with a £250,000 loan, but it was not sufficient to resolve the deficit.  

Read more at BBC News.