ARTIST Damien Hirst is believed to have laid-off nearly half of his London-based staff due to the credit crunch.

Up to 17 of the 22 artists who make the pills for his drug cabinet series were allegedly told their contracts would not be renewed.

Meanwhile it is thought another three who make his butterfly paintings were also told they were surplus to requirements.

The 43-year-old, who is worth more than £200million, is reputed to have told staff they can go before Christmas.