How the Colorado Symphony Orchestra Is Dealing With the Economy

September 23 2009, 12:47 PM

Don't count the musicians of the Colorado Symphony Orchestra among workers fighting for raises or against pay cuts during the recession. The orchestra's musicians have agreed to a 12.5 percent pay cut, a suspension of employer contributions to the musician retirement fund, and as many as four weeks of unpaid leave to help balance the budget. "The severe economic recession has put orchestras all over the country under financial stress," says a joint statement by the symphony musicians association and symphony trustees (via the Denver Business Journal). "The Colorado Symphony Orchestra faces difficult challenges created by the recession, but the musicians and the Symphony Association have worked collaboratively to reach an agreement that will allow the orchestra to maintain a full schedule, operate responsibly within a balanced budget and, most importantly, ensure the excellence of the Colorado Symphony Orchestra." The recession has had a major strain on nonprofits--and the people who depend on them---as Panorama's AJ Vicens reported for 5280 earlier this year.