The Cleveland Orchestra Imposes Layoffs, Launches $6 Million Fundraising Campaign
Cleveland.com has reported that The Cleveland Orchestra is launching a campaign to raise $6 million to help fill a multimillion-dollar budget hole brought on by the current health crisis, and is instituting more than $3 million in temporary wage cuts and layoffs.
Read the full story HERE.
The orchestra has also applied for a loan through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. André Gremillet, the ensemble's president and CEO, said he expects $5 million in loan assistance.
Gremillet said the layoffs and wage cuts should save "well over" $3 million between now and the end of September. Those cutbacks will affect 90 percent of the orchestra's 230 employees, including staff and musicians. He said only those who earn less than $55,000 a year will be spared, and that staffers have been temporarily laid off, making them eligible for unemployment compensation and some federal aid.
Check out the full story HERE.
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