Walmart, the retail giant, announced on Thursday its decision to increase the annual average salary and bonus for US store managers, effective February 1. <o:p></o:p>

The move aims to boost the average hourly wage at Walmart to over $18, with the average salary for store managers rising from $117,000 to $128,000 annually. The annual bonus, based on meeting targets and store profits, could reach up to 200 per cent of the base salary. <o:p></o:p>

The adjustments to the salary and bonus structure are part of Walmart's strategy to invest in its front-line hourly associates. The average hourly pay, which was $17.50 in January of the previous year, is expected to exceed $18 with this change. <o:p></o:p>

The new bonus structure extends to all US store managers, offering them an opportunity to earn an annual bonus linked to their salary, potentially up to 200 per cent. <o:p></o:p>

Walmart's decision follows a broader trend where companies are prioritising competitive compensation to secure and retain talented employees. The move aligns with the company's commitment to providing equitable compensation across all job roles and departments. <o:p></o:p>

The US labour market has experienced robust wage growth and strong retail sales, contributing to increased hiring by employers. Walmart is adapting to these market dynamics by enhancing its wage and benefit structures. <o:p></o:p>

This salary and bonus adjustment is part of Walmart's ongoing initiatives to invest in its store workers. In November, the company raised its sales and profit forecast for fiscal 2024, highlighting the growing importance of grocery shopping, particularly during periods of higher interest rates. <o:p></o:p>

Walmart, with approximately 1.6 million associates in the United States at the end of fiscal 2023, seeks to reinforce its position in the market by prioritizing employee welfare and satisfaction. <o:p></o:p>

Shares of Walmart responded positively to the announcement, rising by 1.4 per cent in late afternoon trade. The stock movement indicates a favourable market response to the news of enhanced wages for US store managers.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Walmart, the retail giant, announced on Thursday its decision to increase the annual average salary and bonus for US store managers, effective February 1. The move aims to boost the average hourly wage at Walmart to over $18, with the average salary for store managers rising from $117,000 to $128,000 annually.

Walmart, the retail giant, announced on Thursday its decision to increase the annual average salary and bonus for US store managers, effective February 1. The move aims to boost the average hourly wage at Walmart to over $18, with the average salary for store managers rising from $117,000 to $128,000 annually. The annual bonus, based on meeting targets and store profits, could reach up to 200 per cent of the base salary. The adjustments to the salary and bonus structure are part of Walmart's strategy to invest in its front-line hourly associates. The average hourly pay, which was $17.50 in January of the previous year, is expected to exceed $18 with this change. The new bonus structure extends to all US store managers, offering them an opportunity to earn an annual bonus linked to their salary, potentially up to 200 per cent. Walmart's decision follows a broader trend where companies are prioritising competitive compensation to secure and retain talented employees. The move aligns with the company's commitment to providing equitable compensation across all job roles and departments. The US labour market has experienced robust wage growth and strong retail sales, contributing to increased hiring by employers. Walmart is adapting to these market dynamics by enhancing its wage and benefit structures. This salary and bonus adjustment is part of Walmart's ongoing initiatives to invest in its store workers. In November, the company raised its sales and profit forecast for fiscal 2024, highlighting the growing importance of grocery shopping, particularly during periods of higher interest rates. Walmart, with approximately 1.6 million associates in the United States at the end of fiscal 2023, seeks to reinforce its position in the market by prioritizing employee welfare and satisfaction. Shares of Walmart responded positively to the announcement, rising by 1.4 per cent in late afternoon trade. The stock movement indicates a favourable market response to the news of enhanced wages for US store managers. (With inputs from Reuters)

Walmart raises wages for US store managers starting February

Britons hoping for a new year's, holiday season salary bump amid high inflation and cost of living crisis will likely be met with disappointment. As per a new estimate the average worker's pay next year will fall back to a level last seen more than a decade ago.&nbsp;PwC estimates show that once inflation is taken into account, the average pay in 2023 will fall down to 2006 levels. As per a CNN report, PwC further predicts that real wages which factor in inflation are expected to fall by almost three per cent in 2022. It will see another two per cent fall in 2023.

Watch |&nbsp;TUC: 2022 the worst year for real wage growth in almost 50 years | UK

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Recent weeks saw widespread protests and walkouts across many verticals of the UK economy like railways, schools, hospitals, nurses, and postal services. However, the report confirms that even as inflation hits double digits and the nation witnesses its worst cost-of-living crisis in decades the future of wages isn't that bright.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/uks-economy-shrinks-more-than-previously-thought-in-third-quarter-data-545630">UK's economy shrinks more than previously thought in third quarter: Data</a>

Barret Kupelian, a senior economist at PwC said, "2022 has obviously been a highly challenging year for the UK economy, and it is not surprising that these chilly headwinds will continue throughout 2023."

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-high-inflation-casts-shadow-on-fastest-rise-in-wages-in-20-years-534384">UK: High inflation casts shadow on fastest rise in wages in 20 years</a>

However, the report did offer some hope. It forecasts that in 2023, in spite of the low wages, more than 30,000 workers could join the UK workforce. This as per the PwC will help alleviate staff shortages and reduce economic instability. An increase in immigration too could potentially boost the economy by one per cent, contributing &nbsp;£19 billion ($23 billion)&nbsp;"even as the whole economy contracts," said PwC. 
 
Kupelian further added that inflation in UK is most likely to have peaked in October 2022 and will gradually begin to return to target over the next two years.

(With inputs from agencies)

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Britons hoping for a new year's, holiday season salary bump amid high inflation and cost of living crisis will likely be met with disappointment. As per a new estimate the average worker's pay next year will fall back to a level last seen more than a decade ago.

Britons hoping for a new year's, holiday season salary bump amid high inflation and cost of living crisis will likely be met with disappointment. As per a new estimate the average worker's pay next year will fall back to a level last seen more than a decade ago. PwC estimates show that once inflation is taken into account, the average pay in 2023 will fall down to 2006 levels. As per a CNN report, PwC further predicts that real wages which factor in inflation are expected to fall by almost three per cent in 2022. It will see another two per cent fall in 2023. Watch | TUC: 2022 the worst year for real wage growth in almost 50 years | UK Recent weeks saw widespread protests and walkouts across many verticals of the UK economy like railways, schools, hospitals, nurses, and postal services. However, the report confirms that even as inflation hits double digits and the nation witnesses its worst cost-of-living crisis in decades the future of wages isn't that bright. Also read | UK's economy shrinks more than previously thought in third quarter: Data Barret Kupelian, a senior economist at PwC said, "2022 has obviously been a highly challenging year for the UK economy, and it is not surprising that these chilly headwinds will continue throughout 2023." Also read | UK: High inflation casts shadow on fastest rise in wages in 20 years However, the report did offer some hope. It forecasts that in 2023, in spite of the low wages, more than 30,000 workers could join the UK workforce. This as per the PwC will help alleviate staff shortages and reduce economic instability. An increase in immigration too could potentially boost the economy by one per cent, contributing £19 billion ($23 billion) "even as the whole economy contracts," said PwC. Kupelian further added that inflation in UK is most likely to have peaked in October 2022 and will gradually begin to return to target over the next two years. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

UK average ‘real’ wages in 2023 likely to fall to their lowest level in more than a decade: PwC

Amid a call for a nationwide strike by several unions, regional train traffic in France was cut by about half on Tuesday. The strike comes at a time when inflation is at a high.&nbsp;It has been a few days since the strikes have been taking place in the country to increase minimum wages with soaring prices. This industrial move has severely disrupted fuel distribution.&nbsp;

The strike has primarily affected the public sector, with schools being disrupted. On the transport front, Eurostar said it was cancelling some trains between London and Paris because of the strike.

The strikes grew broader after oil refineries decided to walk out. Last week, a negotiation call was made but the workers denied the proposed deal.&nbsp;

<a href="https://www.wionews.com/world/paris-thousands-take-to-streets-to-protest-soaring-prices-525950">Also read |&nbsp;Paris: Thousands take to streets to protest soaring prices</a>

Furthermore, with the oil shortage, workers have also blocked several roads. People are travelling for hours to get their vehicle's tanks filled.&nbsp;

Macron's government is all set to issue official orders for workers to uphold the movement, which for now have been upheld in the courts.&nbsp;

French President Emmanuel Macron on Monday said that the government will try its utmost to resolve the matter as soon as possible, AFP reported.

Similarly, the finance minister of the country stated that is important for the government to issue "requisitioning powers." He further stated that the time for negotiation is over.&nbsp;

<a href="https://www.wionews.com/world/france-refinery-strike-has-hit-petrol-supplies-further-says-pm-525947">Also read |&nbsp;France: Refinery strike has hit petrol supplies further, says PM</a>

However, unions have stated that issuing requisitioning is unacceptable and is not the right solution.&nbsp;

These strikes are no more limited to the oil refinery industries. Workers from other industries have also announced to protest against the inflation and soaring prices of commodities.&nbsp;

Furthermore, the CGT and FO unions announced their nationwide strikes to dem, and for higher salaries and oppose the government's requisitioning powers.&nbsp;

In the capital city, Paris, the police expected separate protests by nearly 15,000 workers and school teachers on Tuesday. &nbsp;

(With inputs from agencies)

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Amid a call for a nationwide strike by several unions, regional train traffic in France was cut by about half on Tuesday. The strike comes at a time when inflation is at a high.

Amid a call for a nationwide strike by several unions, regional train traffic in France was cut by about half on Tuesday. The strike comes at a time when inflation is at a high. It has been a few days since the strikes have been taking place in the country to increase minimum wages with soaring prices. This industrial move has severely disrupted fuel distribution. The strike has primarily affected the public sector, with schools being disrupted. On the transport front, Eurostar said it was cancelling some trains between London and Paris because of the strike. The strikes grew broader after oil refineries decided to walk out. Last week, a negotiation call was made but the workers denied the proposed deal. Also read | Paris: Thousands take to streets to protest soaring prices Furthermore, with the oil shortage, workers have also blocked several roads. People are travelling for hours to get their vehicle's tanks filled. Macron's government is all set to issue official orders for workers to uphold the movement, which for now have been upheld in the courts. French President Emmanuel Macron on Monday said that the government will try its utmost to resolve the matter as soon as possible, AFP reported. Similarly, the finance minister of the country stated that is important for the government to issue "requisitioning powers." He further stated that the time for negotiation is over. Also read | France: Refinery strike has hit petrol supplies further, says PM However, unions have stated that issuing requisitioning is unacceptable and is not the right solution. These strikes are no more limited to the oil refinery industries. Workers from other industries have also announced to protest against the inflation and soaring prices of commodities. Furthermore, the CGT and FO unions announced their nationwide strikes to dem, and for higher salaries and oppose the government's requisitioning powers. In the capital city, Paris, the police expected separate protests by nearly 15,000 workers and school teachers on Tuesday. (With inputs from agencies) WATCH WION LIVE HERE

France: Nationwide strikes over pay and cost of living hit transport, schools

Over 1,900 workers of Britain’s busiest container port will begin their eight-day strike on Sunday (August 21), their union and shipping companies have warned that the strike could have a negative impact on the supply and trade chain of the country.

The workers at Felixstowe, in east Britain, said that the reason behind their strike is their pay and are the latest workers to conduct a strike, as the unions call for higher wages for members facing a problem of the cost of living.

Also read |&nbsp;<a href="https://www.wionews.com/world/rmt-secretary-says-strikes-by-workers-could-go-for-indefinite-period-can-bring-uk-to-a-standstill-508124">UK transport strike can turn 'indefinite', warns trade union general secretary</a>

Bobby Morton, a national officer for docks for the United union said, “Strike action will cause huge disruption and will generate massive shockwaves throughout the UK's supply chain, but this dispute is entirely of the company's own making.” He further said, “It [the company] has had every opportunity make our members a fair offer but has chosen not to do so,” Reuters reported.<o:p></o:p>

Hutchison Ports, the owner stated that it thought their offer to increase a 7 per cent wage increase and a lump sum payment of 500 pounds was reasonable enough. However, the port further stated that this offer was accepted by the 500 workers there but the United said that this amount is far below the current inflation rate.

The Hutchison port further stated that it was aiming to minimise inconvenience during the walkouts, which will span until August 29, and that it will soon have a backup plan in place.

Also read |&nbsp;<a href="https://www.wionews.com/world/animals-on-the-railway-huge-tortoise-on-railway-track-blocks-trains-502854">Huge tortoise on railway track blocks trains in UK</a>

One of the largest container shippers in the world, Maersk, warned that this action will have a substantial effect, resulting in operational delays.<o:p></o:p>

Bus and rail workers have already gone on strike in order to secure larger pay raise due to the stress on household incomes.

<o:p>(With inputs from agencies)</o:p>

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Over 1,900 workers of Britain’s busiest container port will begin their eight-day strike on Sunday (August 21), their union and shipping companies have warned that the strike could have a negative impact on the supply and trade chain of the country.

Over 1,900 workers of Britain’s busiest container port will begin their eight-day strike on Sunday (August 21), their union and shipping companies have warned that the strike could have a negative impact on the supply and trade chain of the country. The workers at Felixstowe, in east Britain, said that the reason behind their strike is their pay and are the latest workers to conduct a strike, as the unions call for higher wages for members facing a problem of the cost of living. Also read | UK transport strike can turn 'indefinite', warns trade union general secretary Bobby Morton, a national officer for docks for the United union said, “Strike action will cause huge disruption and will generate massive shockwaves throughout the UK's supply chain, but this dispute is entirely of the company's own making.” He further said, “It [the company] has had every opportunity make our members a fair offer but has chosen not to do so,” Reuters reported. Hutchison Ports, the owner stated that it thought their offer to increase a 7 per cent wage increase and a lump sum payment of 500 pounds was reasonable enough. However, the port further stated that this offer was accepted by the 500 workers there but the United said that this amount is far below the current inflation rate. The Hutchison port further stated that it was aiming to minimise inconvenience during the walkouts, which will span until August 29, and that it will soon have a backup plan in place. Also read | Huge tortoise on railway track blocks trains in UK One of the largest container shippers in the world, Maersk, warned that this action will have a substantial effect, resulting in operational delays. Bus and rail workers have already gone on strike in order to secure larger pay raise due to the stress on household incomes. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

After bus and rail workers, Felixstowe port staff to begin their eight-day strike

Inflation came in strong and wage growth remained elevated at the end of 2021, setting the stage for a challenging economic year in which the Federal Reserve and White House will try to maintain momentum in the job market while wrestling price gains under control.

The personal consumption expenditures index, the Fed’s preferred inflation gauge, came in at 5.8% in December, up from 5.7% the prior month. That beat out the prior month to become the fastest pace since 1982.

Inflation is moderating somewhat on a monthly basis, but its still-high annual readings come at a moment when pay is picking up briskly. While robust wage growth is good news for workers, it also increases the risk of sustained high inflation: Companies may raise prices to try to cover rising labour costs.

The Employment Cost Index, a measure of pay and benefits the Fed watches closely, picked up 1% in the final quarter of 2021 from the prior year. While that was less of a gain than the 1.2% economists in a Bloomberg survey had forecast, it capped a robust year of increases: The gauge climbed 4% in the year through the fourth quarter, with its wages and salaries measure picking up 4.5%.

That marked the fastest pace of increase for both the overall compensation and the wages and salaries measure since the data series started two decades ago.

“Overall wage growth, on a nominal basis, is still pretty strong,” said Omair Sharif, founder of Inflation Insights — referring to the data before they are adjusted for inflation. “The downside is that inflation is eating away at all of these nominal gains.”

Price gains are also chipping away at consumer confidence, making inflation a political liability for the Biden administration and Democrats during a midterm election year. While the White House has taken steps aimed at relieving pressure on choked supply chains, the job of slowing down demand to bring prices under control rests primarily with the Fed.

The Fed’s policymakers have signalled that they will likely begin to raise interest rates at their March meeting as they try to prevent today’s quick price increases from becoming a more permanent feature of the economic landscape. Markets are nervously eyeing the Fed’s next steps, trying to gauge how much it will raise rates and how rapidly. Higher borrowing costs could slow down economic growth and lower stock prices, taking some of the buoyancy out of the U.S. expansion.

Economists do expect inflation to fade this year, though tangled supply chains make it difficult to gauge when that will happen. The world’s trade system remains under pronounced stress, based on various measures — including one produced by the Federal Reserve Bank of New York that incorporates backlogs, delivery times and inventories.

Inflation sped up starting last year as people bought more goods, aided by repeated government relief checks and other federal benefits. The world’s factories and shipping lines have struggled to keep up with demand, resulting in rising prices for cars, lumber and clothing. While spending has moderated somewhat recently — it fell in December as omicron spread, as goods consumption declined — it is unclear whether that is a blip caused by the pandemic or a lasting pullback.

Fed officials have been watching for signs that inflation, which they have projected will ease to less than 3% by the end of the year, might instead linger.

“We are attentive to the risks that persistent real wage growth in excess of productivity could put upward pressure on inflation,” Jerome Powell, the Fed’s chair, said during a news conference Wednesday. Friday’s data could offer officials some slight reprieve.

Powell had in December specifically cited the previously Employment Cost Index reading — which came in high during the third quarter — as one reason that the Fed had decided to shift from stoking growth to preparing to fight back if inflation becomes long-lasting.

The fact that the measure did not pick up as sharply as expected in the final quarter of the year could give investors some confidence that the central bank’s policy-setting group, the Federal Open Market Committee, will not further speed up its plans to withdraw economic help.

“With labor participation creeping higher, and measures of excess demand flattening in recent months, it is reasonable to think that wage growth is unlikely to reaccelerate dramatically,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote following the release. “In the meantime, this report eases the immediate pressure on the FOMC to act aggressively.”

As inflation uncertainty lingers and another wave of virus prevents a return to normal life, several measures of consumer confidence have shown that people are becoming less optimistic. The University of Michigan survey has shown sentiment faltering as prices have risen, and The Conference Board’s index ticked down in January.

“You have very high inflation, so people are seeing an erosion of their purchasing power,” said Dana M. Peterson, chief economist at The Conference Board, noting that the resurgent virus is also to blame. “People will have higher confidence once we’re beyond omicron.”

For now, it is a moment of pronounced economic uncertainty.

Ashley Fahr, owner of the culinary company and event space La Cuisine in Venice, California, said rising grocery costs began to bite at a difficult moment — just before omicron began to surge, causing people to pull back from activities like the cooking classes and catering events she offers.

She noticed in December that her food bill had gone up by about 15%, chipping away at her margins, and she passed about 5% of that on to customers while absorbing the rest of the increase.

“I didn’t want to quote a number people would balk at,” she said.

Fahr said she pays her workers — most of whom are independent contractors — competitive wages and that it is hard to keep up with rising prices and still turn a profit. She is watching to see what other local caterers and cooking classes do with their pricing — and whether they begin to pass on the full increase to customers.

“If everyone else does it, I’ll do it too,” Fahr said.

That sort of logic is what economic officials worry about. If businesses and consumers begin to expect prices to steadily rise, they may begin to accept instead of resisting them — and when inflation gets baked into expectations, it might spiral upward year after year, economists worry.

“What we’re trying to do is get inflation, keep inflation expectations well anchored at 2%,” Powell said at his news conference this week. “That’s always the ultimate goal.”

Inflation came in strong and wage growth remained elevated at the end of 2021, setting the stage for a challenging economic year in which the Federal Reserve and White House will try to maintain momentum in the job market while wrestling price gains under control.

Inflation came in strong and wage growth remained elevated at the end of 2021, setting the stage for a challenging economic year in which the Federal Reserve and White House will try to maintain momentum in the job market while wrestling price gains under control. The personal consumption expenditures index, the Fed’s preferred inflation gauge, came in at 5.8% in December, up from 5.7% the prior month. That beat out the prior month to become the fastest pace since 1982. Inflation is moderating somewhat on a monthly basis, but its still-high annual readings come at a moment when pay is picking up briskly. While robust wage growth is good news for workers, it also increases the risk of sustained high inflation: Companies may raise prices to try to cover rising labour costs. The Employment Cost Index, a measure of pay and benefits the Fed watches closely, picked up 1% in the final quarter of 2021 from the prior year. While that was less of a gain than the 1.2% economists in a Bloomberg survey had forecast, it capped a robust year of increases: The gauge climbed 4% in the year through the fourth quarter, with its wages and salaries measure picking up 4.5%. That marked the fastest pace of increase for both the overall compensation and the wages and salaries measure since the data series started two decades ago. “Overall wage growth, on a nominal basis, is still pretty strong,” said Omair Sharif, founder of Inflation Insights — referring to the data before they are adjusted for inflation. “The downside is that inflation is eating away at all of these nominal gains.” Price gains are also chipping away at consumer confidence, making inflation a political liability for the Biden administration and Democrats during a midterm election year. While the White House has taken steps aimed at relieving pressure on choked supply chains, the job of slowing down demand to bring prices under control rests primarily with the Fed. The Fed’s policymakers have signalled that they will likely begin to raise interest rates at their March meeting as they try to prevent today’s quick price increases from becoming a more permanent feature of the economic landscape. Markets are nervously eyeing the Fed’s next steps, trying to gauge how much it will raise rates and how rapidly. Higher borrowing costs could slow down economic growth and lower stock prices, taking some of the buoyancy out of the U.S. expansion. Economists do expect inflation to fade this year, though tangled supply chains make it difficult to gauge when that will happen. The world’s trade system remains under pronounced stress, based on various measures — including one produced by the Federal Reserve Bank of New York that incorporates backlogs, delivery times and inventories. Inflation sped up starting last year as people bought more goods, aided by repeated government relief checks and other federal benefits. The world’s factories and shipping lines have struggled to keep up with demand, resulting in rising prices for cars, lumber and clothing. While spending has moderated somewhat recently — it fell in December as omicron spread, as goods consumption declined — it is unclear whether that is a blip caused by the pandemic or a lasting pullback. Fed officials have been watching for signs that inflation, which they have projected will ease to less than 3% by the end of the year, might instead linger. “We are attentive to the risks that persistent real wage growth in excess of productivity could put upward pressure on inflation,” Jerome Powell, the Fed’s chair, said during a news conference Wednesday. Friday’s data could offer officials some slight reprieve. Powell had in December specifically cited the previously Employment Cost Index reading — which came in high during the third quarter — as one reason that the Fed had decided to shift from stoking growth to preparing to fight back if inflation becomes long-lasting. The fact that the measure did not pick up as sharply as expected in the final quarter of the year could give investors some confidence that the central bank’s policy-setting group, the Federal Open Market Committee, will not further speed up its plans to withdraw economic help. “With labor participation creeping higher, and measures of excess demand flattening in recent months, it is reasonable to think that wage growth is unlikely to reaccelerate dramatically,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote following the release. “In the meantime, this report eases the immediate pressure on the FOMC to act aggressively.” As inflation uncertainty lingers and another wave of virus prevents a return to normal life, several measures of consumer confidence have shown that people are becoming less optimistic. The University of Michigan survey has shown sentiment faltering as prices have risen, and The Conference Board’s index ticked down in January. “You have very high inflation, so people are seeing an erosion of their purchasing power,” said Dana M. Peterson, chief economist at The Conference Board, noting that the resurgent virus is also to blame. “People will have higher confidence once we’re beyond omicron.” For now, it is a moment of pronounced economic uncertainty. Ashley Fahr, owner of the culinary company and event space La Cuisine in Venice, California, said rising grocery costs began to bite at a difficult moment — just before omicron began to surge, causing people to pull back from activities like the cooking classes and catering events she offers. She noticed in December that her food bill had gone up by about 15%, chipping away at her margins, and she passed about 5% of that on to customers while absorbing the rest of the increase. “I didn’t want to quote a number people would balk at,” she said. Fahr said she pays her workers — most of whom are independent contractors — competitive wages and that it is hard to keep up with rising prices and still turn a profit. She is watching to see what other local caterers and cooking classes do with their pricing — and whether they begin to pass on the full increase to customers. “If everyone else does it, I’ll do it too,” Fahr said. That sort of logic is what economic officials worry about. If businesses and consumers begin to expect prices to steadily rise, they may begin to accept instead of resisting them — and when inflation gets baked into expectations, it might spiral upward year after year, economists worry. “What we’re trying to do is get inflation, keep inflation expectations well anchored at 2%,” Powell said at his news conference this week. “That’s always the ultimate goal.”

Wages rise at fastest pace since 2002 as inflation continues to run hot

Urging the Metropolitan Opera to compensate its artists “appropriately,” the company’s music director, Yannick Nézet-Séguin, sent a letter to leaders at the Met on Thursday saying that the many months its orchestra and chorus had gone without pay during the pandemic had become “increasingly unacceptable.”

He sent the letter as the Met’s musicians were scheduled to receive their first partial paychecks since they were furloughed in April. Before this week, they had been the last major ensemble in the country without a deal for at least some pay during the pandemic. In addressing the players’ nearly yearlong furlough — and hinting at the tough negotiations ahead, in which the Met is seeking long-term pay cuts from its unionized employees — Nézet-Séguin was doing something rare for a music director: weighing in on labor matters.

“Of course, I understand this is a complex situation,” Nézet-Séguin wrote, “but as the public face of the Met on a musical level, I am finding it increasingly hard to justify what has happened.”

The letter was obtained by The New York Times and confirmed by its recipients, which included Peter Gelb, the Met’s general manager; the leaders of the negotiating committees representing the chorus and orchestra; and members of the opera’s board of directors.

“We risk losing talent permanently,” Nézet-Séguin warned in the letter. “The orchestra and chorus are our crown jewels, and they must be protected. Their talent is the Met. The artists of the Met are the institution.”

The orchestra committee has said that 10 out of 97 members have retired during the pandemic as the ensemble has gone unpaid, a stark increase from the two to three who retire in an average year.

“Protecting the long-term future of the Met is inextricably linked with retaining these musicians, and with respecting their livelihoods, their income and their well-being,” Nézet-Séguin wrote.

The Met said in a statement that “we share Yannick’s frustration over the lengthy closure and the impact it has had on our employees,” and added that the company was pleased that its orchestra and chorus and others were now receiving bridge pay. The Met said all involved were “working together for new agreements that will ensure the sustainability of the Met into the future.”

The Met, the nation’s largest performing arts organization, has said that since the pandemic forced it to shut its doors it has lost an estimated $150 million in earned revenue, and that it was seeking pay cuts from its workers, as many arts institutions have. The Met has been trying to cut the payroll costs for its highest-paid unions by 30% — the change in take-home pay would be more like 20%, it has said — and has offered to restore half the cuts when ticket revenue and core donations return to prepandemic levels.

Months into the furlough, the Met offered partial paychecks to its workers if they agreed to those cuts, but the unions resisted. At the end of the year, the Met offered partial paychecks on a temporary basis for simply returning to the bargaining table. Members of the American Guild of Musical Artists, which represents chorus members, dancers and others, accepted at the end of January and have been receiving paychecks for more than a month. The orchestra musicians voted to accept the offer this week. (The Met has locked out its stagehands, whose contract expired last year.)

Nézet-Séguin wrote in his letter that he was relieved that both the musicians and the chorus members are now being paid, but added that “this is just a start.” The deal allows for temporary payments of up to $1,543 a week, less than half of what the musicians are typically paid.

Nézet-Séguin was named the Met’s music director in 2016, when he was tapped to succeed James Levine, who led the company for four decades (Levine, who stepped down to an emeritus position because of health problems and was then fired two years later after an investigation into sexual abuse allegations, died this month.)

“I implore the fiduciaries of this incredible house to urgently help to find a solution to compensate our artists appropriately,” Nézet-Séguin wrote. “We all realize the challenges, economic and otherwise, that the Met is facing, and therefore I ask for empathy, honesty and open communication throughout this process.”

Urging the Metropolitan Opera to compensate its artists “appropriately,” the company’s music director, Yannick Nézet-Séguin, sent a letter to leaders at the Met on Thursday saying that the many months its orchestra and chorus had gone without pay during the pandemic had become “increasingly unacceptable.

Urging the Metropolitan Opera to compensate its artists “appropriately,” the company’s music director, Yannick Nézet-Séguin, sent a letter to leaders at the Met on Thursday saying that the many months its orchestra and chorus had gone without pay during the pandemic had become “increasingly unacceptable.” He sent the letter as the Met’s musicians were scheduled to receive their first partial paychecks since they were furloughed in April. Before this week, they had been the last major ensemble in the country without a deal for at least some pay during the pandemic. In addressing the players’ nearly yearlong furlough — and hinting at the tough negotiations ahead, in which the Met is seeking long-term pay cuts from its unionized employees — Nézet-Séguin was doing something rare for a music director: weighing in on labor matters. “Of course, I understand this is a complex situation,” Nézet-Séguin wrote, “but as the public face of the Met on a musical level, I am finding it increasingly hard to justify what has happened.” The letter was obtained by The New York Times and confirmed by its recipients, which included Peter Gelb, the Met’s general manager; the leaders of the negotiating committees representing the chorus and orchestra; and members of the opera’s board of directors. “We risk losing talent permanently,” Nézet-Séguin warned in the letter. “The orchestra and chorus are our crown jewels, and they must be protected. Their talent is the Met. The artists of the Met are the institution.” The orchestra committee has said that 10 out of 97 members have retired during the pandemic as the ensemble has gone unpaid, a stark increase from the two to three who retire in an average year. “Protecting the long-term future of the Met is inextricably linked with retaining these musicians, and with respecting their livelihoods, their income and their well-being,” Nézet-Séguin wrote. The Met said in a statement that “we share Yannick’s frustration over the lengthy closure and the impact it has had on our employees,” and added that the company was pleased that its orchestra and chorus and others were now receiving bridge pay. The Met said all involved were “working together for new agreements that will ensure the sustainability of the Met into the future.” The Met, the nation’s largest performing arts organization, has said that since the pandemic forced it to shut its doors it has lost an estimated $150 million in earned revenue, and that it was seeking pay cuts from its workers, as many arts institutions have. The Met has been trying to cut the payroll costs for its highest-paid unions by 30% — the change in take-home pay would be more like 20%, it has said — and has offered to restore half the cuts when ticket revenue and core donations return to prepandemic levels. Months into the furlough, the Met offered partial paychecks to its workers if they agreed to those cuts, but the unions resisted. At the end of the year, the Met offered partial paychecks on a temporary basis for simply returning to the bargaining table. Members of the American Guild of Musical Artists, which represents chorus members, dancers and others, accepted at the end of January and have been receiving paychecks for more than a month. The orchestra musicians voted to accept the offer this week. (The Met has locked out its stagehands, whose contract expired last year.) Nézet-Séguin wrote in his letter that he was relieved that both the musicians and the chorus members are now being paid, but added that “this is just a start.” The deal allows for temporary payments of up to $1,543 a week, less than half of what the musicians are typically paid. Nézet-Séguin was named the Met’s music director in 2016, when he was tapped to succeed James Levine, who led the company for four decades (Levine, who stepped down to an emeritus position because of health problems and was then fired two years later after an investigation into sexual abuse allegations, died this month.) “I implore the fiduciaries of this incredible house to urgently help to find a solution to compensate our artists appropriately,” Nézet-Séguin wrote. “We all realize the challenges, economic and otherwise, that the Met is facing, and therefore I ask for empathy, honesty and open communication throughout this process.”

Met Opera’s music director decries musicians’ unpaid furlough