Queensland Ballet has reported a total comprehensive deficit of $9.45 million for the 2024-25 financial year.

According to its 2024-25 Annual Report, released yesterday, the company recorded an $8.6 million operating deficit, with the remaining loss attributed to financing costs associated with the redevelopment of its home, the Thomas Dixon Centre. Last financial year, 2023-24, the company reported a deficit of $1.57 million.

“Heading into 2025, we made purposeful decisions to position Queensland Ballet for a strong and sustainable future,” said Executive Director Dilshani Weerasinghe. “We’ve taken decisive steps to reset our cost base, diversify revenue, and embed a leadership vision that is already inspiring confidence across the Company and its supporter family”.

Queensland Ballet’s Triple Bill 2025. Rhapsody in Motion by Greg Horsman. Photo by David Kelly

An organisational restructure has led to the reduction of 27 roles across the company, including eight dancers. Voluntary redundancies, a hiring freeze and internal realignment were used to manage the transition. According to the executive panel, all were given the opportunity to take a voluntary redundancy before “other measures” were implemented.

Among those tapped for redundancy are the former acting Artistic Director Greg Horsman, who...