Pittsburgh Symphony Management, Union Agree To Seek Financial Advice
The Pittsburgh Symphony Orchestra's management and musicians union have agreed to let an independent expert assess the organization's finances in hopes of ending a musician's strike that began Sept. 30.
Management is seeking a 15-percent wage cut, plus pension concessions saying that's necessary to keep the symphony solvent in the face of more than $20 million in debt over the next five years.
The musicians' union says management is overstating the orchestra's financial problems.
Both sides have agreed to resume bargaining this week and have a neutral financial expert review the orchestra's income and expenses.
The orchestra has canceled all performances through Nov. 18 because of the strike.
The 15-percent pay cut would drop the musicians' base salary from more than $107,000 to just over $91,000 annually.