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CSO cutting costs as revenues decline
Published February 21, 2009 at 12:05 a.m.
Colorado Symphony Orchestra musicians have agreed to a one-week unpaid vacation in March to help the group navigate what its officials describe as "economically challenging times."
In addition, on Thursday, CSO officials announced that the administrative staff members have agreed to a temporary suspension of contributions to employees' retirement plans.
"We're trying to compensate for decreases in ticket revenues for the fiscal year of about 15 percent. There has been a similar decrease in charitable contributions," said Cliff Gardiner, the symphony's interim president.
Gardiner said the contribution from the 79 full-time musicians is equivalent, in percentage of yearly salary, to the contribution from the 30 administrative staff members.
"The stagehands have also pledged to participate in the cost-cutting effort in a similar way," he said, adding that the organization is also looking at programming for the coming season. "It's not inconceivable that we'll drop some orchestra events."
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