QUICK TAKES - May 19, 2009
Chicago Symphony Orchestra musicians have agreed to a 2.5% salary reduction as part of institution-wide budget cuts designed to save the orchestra an estimated $4 million through the 2010-11 season.
The salary cuts are part of a general cost-cutting plan designed to ensure financial stability amid the nation’s economic meltdown. Orchestra players have accepted a pay reduction for roughly two years, beginning July 1 and extending to the expiration of their present contract in September 2011.
The CSO ended fiscal 2008 with a $232,000 surplus on an operating budget of $61 million.
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