The BSO has just put out this statement:
In response to COVID-19-related revenue loss of $35 million, a compensation reduction averaging 37% in the first year of the contract; increases in compensation over the course of the agreement will occur as the BSO redevelops sustainable revenue, as clearly defined in the terms of the new contract….
The Boston Symphony Orchestra’s new labor agreement reflects our collective understanding of the major challenges posed by the COVID-19 pandemic and the devastating financial losses due to the cancellation of the BSO’s performance and event schedule, March-November. By addressing these challenges on the compensation level, as well as in several other areas, the BSO’s new labor agreement acknowledges the part the musicians are playing in the overall cost-saving measures to ensure the Boston Symphony Orchestra emerges from the pandemic as a vibrant and essential institution for its loyal music community. It was especially gratifying to come to an agreement on the importance of redefining official services beyond rehearsals and concerts during this time of hiatus from live performances and beyond. In a departure from the standard labor agreement subjects, management and musicians worked enthusiastically together on the creation of the BSO Resident Fellowship Program for young musicians of color—a program that we hope will inspire much needed optimism as we continue to look toward better times and toward expanding the BSO’s vision of its future offerings.