The Honolulu Academy of Arts is trimming staff as a sagging economy has led to one of the largest declines ever in its $59 million endowment.

The nonprofit academy is laying off eight employees, or 5.3 percent of its 150-member staff, according to Director Stephen Little. The staff was notified last week, with the layoffs effective at the end of the month. It is the largest round of layoffs and the first cuts over economic concerns since he was hired as director in February 2003.

The cuts are less severe than those that swept two other Honolulu museums in the past five months. Honolulu's Contemporary Museum laid off more than half of its 48 employees earlier this month, citing continued economic pressure on its endowment. In June, the Bishop Museum laid off 14 workers, or about 6 percent of its 221 staffers at the time, to cut costs.

“;It was not an easy decision, but the economy is such that we are having to really pursue a number of initiatives just to maintain the level of programming that we are providing right now,”; Little said in an interview.

Cuts were made throughout all levels of the academy based on effectively restructuring responsibilities, not because of performance problems, Little said. The academy is also cutting back on electricity use and phasing out rental space for unused items, such as display cases, to help trim operating costs by $2 million this fiscal year, which started in July.

“;It's because of the economy, the decline in the value of the investments,”; he said. “;I think every museum in the country is facing this right now.”;

The New York Times reported Monday that even larger museums hurt by dwindling endowments and corporate sponsorships are implementing hiring freezes and stepping up fundraising efforts.

Georgianna Lagoria, executive director of the Contemporary Museum, said the museum is actively recruiting volunteers to help fill the void left by vacated positions, which will help save a half-million dollars.

“;We are working with remaining staff as best we can to preserve the quality of our resources,”; she said. “;We are working very hard, many of us are double or tripled up on duties.”;

Little said a hiring freeze put in place by the academy on July 1 has contributed to an additional half-million dollars in savings, as well as about 10 people who have left through attrition since that time. He declined to discuss how much the downturn this fiscal year has cost the endowment.

The academy hasn't trimmed its program schedule since June, when it cut three exhibitions planned for the next three years.

Loan fees from two major traveling collections are helping bolster revenue, while the museum will focus more on promoting its permanent collection, Little said.