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San Diego Opera cutting costs as part of effort to achieve stability

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SDOperaAs San Diego Opera continues to regroup and work toward mounting its planned 2015 season, scheduled to begin in January, the troubled company has put cost-cutting measures in place that are expected to help it achieve a measure of financial stability.

Last week, San Diego Opera held its annual meeting, after which it was announced that the company is moving ahead with plans to move its headquarters in an effort to save more than $400,000 in rent each  year. The opera’s administration has been using office space in downtown San Diego’s Civic Center Plaza, near its main performance venue, the Civic Theatre.

Opera leaders didn’t specify where the new offices would be located, except to say that they will be nearby and will be smaller and more economical.

The opera has said that it has reduced its annual operating budget to approximately $10.5 million. In past seasons, the company has reported budgets of around $15 million per year.

San Diego Opera announced staff reductions in May, with the laying off of 13 people. The reduction amounts to almost one-third of its staff.

In a statement last week, company officials said that they continue to “work on other cost reductions, always mindful of the need to expand its presence in the community and maintain high standards of artistic quality.”

The opera has previously said that pay cuts will be part of the cost-saving measures.

In May, San Diego Opera officially rescinded its decision to shut down, saying that it will have a 2015 season consisting of three mainstage productions, down from four in recent years. The company has raised several million dollars through crowdfunding and other efforts.

Read more at latimes.com