IBJNews

Indianapolis Symphony Orchestra lays off 6 employees

Back to TopCommentsE-mailPrintBookmark and Share

The Indianapolis Symphony Orchestra has laid off six employees as part of ongoing restructuring at an organization that has been dealing with seven-figure budget deficits in recent years.

Jackie Groth, the ISO’s interim president and CEO, said the positions were in information technology, patron services, development, and communications and marketing.

“Really, it’s just part of our initiative here to balance our budget,” Groth said Wednesday morning. The layoffs were an “unfortunate” but necessary part of that effort, she said.

Forty-six full-time employees remain at the ISO, not including 85 union musicians. The orchestra had as many as 80 administrative employees in early 2009.

The staff cuts come as the ISO’s leaders try to turn around years of financial losses. The ISO's expenses of $25.6 million exceeded revenue by $1.7 million for the 2011 fiscal year. Last year's deficit was $1 million less than the previous year's and $1.1 million less than the deficit two years ago.

With the end of the ISO's current fiscal year seven weeks away, Groth declined to comment on her specific expectations for 2012’s financial performance. She said it’s too early to know because the summer season is still in progress. But she did say the ISO would finish the year with a deficit.

A need to restore the orchestra’s endowment, which took a hard hit from market woes during the recession, has been a major reason behind ISO cutbacks. The organization, which drew $7.3 million, or 7.2 percent, from the endowment last year, has been reducing its dependence on the fund.

The endowment, which the Indianapolis Symphony Foundation manages, stood at $89 million at the end of fiscal 2011, about $5.5 million more than the previous year. The fund peaked at $128 million in 2007.

Simon Crookall, the former president and CEO of the ISO, launched a $100 million capital campaign in spring 2010.

The first phase brought in $12 million to $13 million, Groth said. Fundraisers have put the campaign on the back burner as the orchestra searches for a replacement for Crookall, who resigned earlier this year.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

  4. downtown in the same area as O'malia's. 350 E New York. Not sure that another one could survive. I agree a Target is needed d'town. Downtown Philly even had a 3 story Kmart for its downtown residents.

  5. Indy-area residents... most of you have no idea how AMAZING Aurelio's is. South of Chicago was a cool pizza place... but it pales in comparison to the heavenly thin crust Aurelio's pizza. Their deep dish is pretty good too. My waistline is expanding just thinking about this!

ADVERTISEMENT