Musicians at Struggling Memphis Symphony Take 38% Pay Cut
October 22, 2014
Memphis Symphony Orchestra musicians agreed Monday to take a one-year, 38-percent pay hit to help the strapped organization balance its budget, WALB television and The Commercial Appeal report.
Roland Valliere, the symphony’s president and CEO, said it required “emergency measures” after spending down its reserve fund, which once topped $6-million, to cover persistent operating deficits. He said the organization is working to expand its donor base. The symphony was able to complete its 2013-14 season thanks to a series of gifts and benefit concerts.
