PHILADELPHIA (AP) — The Philadelphia Orchestra says a new collective bargaining agreement has been reached between the orchestra association and its musicians union.
The orchestra said Thursday the tentative agreement reached last week has been ratified by players and approved by the Philadelphia Orchestra Association board. It now goes for approval to the judge in the orchestra’s bankruptcy case.
The renowned 111-year-old symphony this year became the first major U.S. orchestra to file for Chapter 11 bankruptcy protection.
Orchestra president and chief executive officer Allison Vulgamore said the agreement calls for cutting salaries and moving musicians’ pensions to a defined contribution plan from the current defined benefit plans. She declined to provide specifics.
A call to the Philadelphia Musicians’ Union for comment was not immediately returned.
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