Gallery Massacres Continue, Damien Hirst Wields Ax

With worldwide insolvency imminent and more galleries dragging their heels to the killing floor, it was only a matter of time before recessionomics forced big-name artists to downsize as well. The most sobering news comes from Damien Hirst's camp, where about half of his London-based workforce has been laid off.

Seventeen of the twenty-two casualties manufacture the pills for Hirst’s drug cabinet series; another three are responsible for working on his butterfly series. But unlike mouthy survivors in other industries, Hirst’s remaining laborers are staying tight-lipped despite the funereal atmosphere of their workplace. But Hirst acknowledges that the value of artwork had become too lofty and in this recession climate; he’s willing to take a pay cut and sell his stuff for cheap. But dear Mr. Hirst, what’s “cheap” when one of your last works sold for over $70 million?