Nashville Musicians Association, Nashville Symphony Association Ratify New One-Year Contract
The Nashville Musicians Association, AFM Local 257 and the Nashville Symphony Association announced today that the orchestra musicians have ratified a new one-year contract. The contract will go into effect immediately and will run through July 31, 2014.
The agreement comes after three months of negotiations between the Nashville Musicians Association and the Symphony Association, which have focused on building a secure, sustainable future for the orchestra while maintaining an unwavering commitment to artistic excellence and community service. The terms of the contract include a 15 percent reduction in the musicians' pay, which is similar in scope to the recent cuts in total compensation and benefits taken by members of the administrative staff.
"We are profoundly grateful to our musicians for their spirit of shared sacrifice," says Nashville Symphony President & CEO Alan Valentine. "We were able to reach these mutually agreeable terms through a genuinely collaborative effort and a common desire to serve the people of Middle Tennessee. We are especially pleased that the new contract will allow us to continue offering the same high level of programming for our audiences, and it will also provide increased opportunities for the orchestra to go out into the city and engage everyone in our community even more actively than ever before."
The salary concessions are part of a comprehensive financial restructuring that the Symphony has undertaken in response to the difficult economic conditions that have plagued the organization since the start of the 2008 recession, and which were exacerbated by the May 2010 flood. Taken in tandem with other restructuring efforts, which include reducing debt service costs by more than 90 percent, these cuts will enable the Symphony to lower its annual operating costs by a total of $6 million, or 29 percent of this year's operating budget.