San Francisco Opera cuts $1 million

Posted on: May 6, 2009

In Tuesday’s (5/5) San Francisco Business Journal, Sarah Duxbury reports on the San Francisco Opera. “Beginning August 1, 2009,” she writes, “the top five highest paid executives will receive a 5 percent pay cut; four open positions will remain vacant; S.F. Opera will suspend matching contributions to administrative employee 401(a) pension plans; all administrative employees will take one week unpaid furloughs in January 2010; staff healthcare contributions will increase; and there will be no more parking subsidies. These changes will provide more than $1 million in savings to the company. … These adjustments will hopefully save the company from laying off staff or resorting to across-the-board pay cuts, [General Director David] Gockley added in a statement. The budget for the coming 2009-2010 season currently stands at $63 million, which, along with today’s announcement, reflects a $6 million cost cutting from the originally-proposed budget. The next season opens on Friday, September 11 with Verdi’s ‘Il Travatore.’ ”

Posted May 6, 2009