RIBA will sell off buildings and slash staff amid an ongoing deficit

The Royal Institute of British Architects (RIBA) is reportedly downsizing after running a deficit in 2020, according to a new report from the Architects’ Journal.

The RIBA council addressed the issue in a meeting on September 30 that was open to members of the press. Chief executive Alan Vallance laid the professional organization’s struggles bare; in 2020, RIBA spent $38.39 million (28.2 million pounds) while only bringing in $27.22 million (20 million pounds) as the pandemic slammed the global economy. Faced with the reality of running $11 million in debt, Vallance laid out that the path forward would involve reducing both staff and properties in RIBA’s portfolio.

Though no concrete

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