Steppenwolf Theatre announces major layoffs: ‘We’re not too big to fail’

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Steppenwolf Theatre announces major layoffs: ‘We’re not too big to fail’
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The theater said Thursday that it was laying off 12% of its staff.

Steppenwolf Theatre's new in-the-round theater and education center on its expanded campus on Halsted Street on Oct. 25, 2021.

. Flanagan said those shorter seasons likely would continue for at least three years, or until the theater, which still has debt from the physical expansion of its Lincoln Park home, can find a more stable financial footing. The current plan reduces the theater’s overall annual budget from about $20 million to about $16 million.

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