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Philadelphia Orchestra Management and Musicians announce united effort to secure Orchestra's future

February 26, 2010

The Philadelphia Orchestra Association announced today that it is taking further steps to bolster the financial stability of the organization, which will enable it to continue presenting programs that meet the highest artistic standards. A unified effort between the Musicians of the Orchestra, the Management of the Association, and the Board of Directors has resulted in significant, further savings for the institution. The full Orchestra has approved additional contract modifications potentially worth $4.5 million, bringing the total musician contribution to over $8 million over two and one quarter years, and the Board of Directors has confirmed $8 million in pledges toward a recovery fund.