New York Philharmonic has reached a deal with its musicians that will see them take a 25% pay cut until August 2023.
For the last year of their current contract, which is the 2023-24 season, their pay will be cut by 10% of the original level. The pay cut begins with immediate effect.
NY Phil said the new agreement will save them USD20m (€16.5m). The orchestra estimates that it has lost USD31m so far because of COVID-19, and that these losses will continue to mount over the coming months.
Associate principal trombone Colin Williams, who chaired the Orchestra Negotiation Committee, commented: “The musicians of NY Phil are grateful to the board for their financial support during these dark days of the pandemic when we have been unable to perform. We know that with these sacrifices and the support of our leadership and our board we will return from this crisis stronger and more vibrant than ever.”
Added NY Phil president and CEO Deborah Borda: “The new contract is a critical step toward building a sustainable pathway forward and to preserving our beloved institution for a bright future. The participation, the dedication, of the Philharmonic musicians in creatively and pragmatically helping to shape this agreement is something I will never forget. They have my admiration and deepest thanks.”
To date NY Phil has laid off 40% of its administrative staff, while musicians have been receiving just 75% of their normal pay.