Last week, we noted that unionized employees working at the Metropolitan Opera (the Met) in New York City were set to strike for the first time since the 1980s. However, it looks like the strike has been set aside for the moment. Negotiations between the 12 labor unions and Met management will take a break this week so that a financial analyst can examine the opera house’s financials.
A federal mediator came on the scene late last week in order to assist in negotiations. The idea to bring in a financial analyst reportedly sprang from those discussions. While the results of the financial analysis will be kept confidential and are “non-binding,” the break in the action gives both sides a chance to catch their breath and head back to the bargaining table. We will keep you posted as this dispute moves forward.