The Oregon Symphony is trying to balance its budget by June 30th. In an effort to help, musicians have agreed to forgo their end-of-season payment and waive a salary increase for next year.
The symphony’s board of directors canceled the orchestra’s trip to Carnegie Hall this month. Musicians weren’t the only ones who faced financial cuts.
Janet Plummer is the interim Co-President and Chief Financial Officer with the Oregon Symphony.
“We cut staff and staff salaries back in October as well. And as it turns out, this is equivalent sacrifice that the musicians are making to what the staff had made back in October. We also went and talked to our vendors and to our donors and asked for vendors to give us some relief and asked for donors to also sacrifice by giving us more.”
Plummer says different factors are causing the budget problems. Because the orchestra does not have high-profile guest artists as it did last season, ticket sales have decreased.
Revenue from the orchestra’s endowment has dropped, too. And, unlike prior years, no bequests have been received.
The orchestra has balanced its budget the past three years.