“The Nashville Symphony and the musicians’ union have reached agreement on a long-term pact that will mean raises for the musicians,” reports Nate Rau in Monday’s (9/22) Tennessean. “The Symphony announced the four-year agreement with the Nashville Musicians Association in a press release on Monday evening. The agreement, which goes into effect immediately, provides 3 percent pay increases for the first two years of the deal. The musicians may enter into a wage renegotiation for each of the last two years of the deal. Last year, with the Schermerhorn Symphony Center facing foreclosure, the musicians took a 15 percent pay reduction and worked on a one-year deal. ‘We are thrilled that we have reached an agreement which recognizes our musicians’ critical importance to our organization and the sacrifices they have made,’ Nashville Symphony president & CEO Alan Valentine said in a prepared statement.… The organization had to tighten its belt last year when benefactor Martha Ingram stepped in to stave off foreclosure and the nonprofit organization’s banks forgave millions in debt.… An audit released earlier this year showed the Symphony had reduced its debt to under $23 million and cut operating expenses by $10 million. In addition to musicians, Symphony executives, including Valentine, also took pay cuts.”
Posted September 23, 2014
Pictured: Giancarlo Guerrero leads the Nashville Symphony Orchestra. Photo by The Tennessean
