Philly Orchestra, pay cut

With the Boston Symphony Orchestra currently negotiating a new contract, it's worth noting that the musicians of the Philadelphia Orchestra have voluntarily agreed to take a 4.8 percent pay cut. That cut - and reductions in pension contributions, overtime and royalty payments - should save more than $4 million in the FY10 and FY11 budgets, according to a release from the orchestra.

“The musicians view preserving the quality of The Philadelphia Orchestra as our sacred trust,” said cellist John Koen, Chairman of the Orchestra’s Members’ Committee in a statement. “Although we did not want to modify our negotiated contract, we understand the difficulty the institution is facing in these unprecedented financial times and remain committed to preserving it. We believe these short-term modifications to our contract are the best way to protect the Orchestra and our music.”