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Saudi Arabia Deal

All articles tagged with #saudi arabia deal

business1 month ago•2 min saved

Met Opera Cuts Jobs, Salaries, and Shows in Cost-Cutting Push

The Metropolitan Opera announced 22 administrative layoffs, 4–15% salary reductions for 35 executives including general manager Peter Gelb, and a cut from 18 to 17 productions next season, with Mussorgsky’s Khovanshchina postponed, as it seeks about $40 million in immediate and near-term savings while awaiting a pending $200 million Saudi funding deal. The organization is also exploring revenue options such as selling naming rights, the murals, or renting the venue to pop acts, to maintain artistic standards and financial sustainability.

via The Guardian|

#business #finance #layoffs

business1 month ago•5 min saved

Met Opera Cuts Jobs, Slashes Pay, and Delays New Production Amid Saudi Funding Uncertainty

The Metropolitan Opera announced layoffs of 22 administrative staff and 35 executives earning over $150,000, with 4–15% pay cuts for top earners, and will delay Mussorgsky’s Khovanshchina for the 2026–27 season while reducing next year’s slate to 17 productions. The moves stem from concerns about the Saudi funding arrangement that would subsidize the company’s planned performances in Diriyah; officials also floated selling the theater’s two Chagall murals (valued at about $55 million) and possibly selling naming rights, though murals would stay in the building. Gelb and Nézet-Séguin will take temporary pay reductions, with a plan to restore salaries in 2027. The situation follows ongoing controversy over the Saudi deal and its implications for the Met’s finances.

via OperaWire|

#business #khovanshchina-postponement #layoffs

business1 month ago•1 min saved

Met Opera Restructures With Layoffs and Shortened Season Amid Saudi Funding

Facing ongoing financial strain, the Metropolitan Opera announced layoffs, salary cuts for top executives, and postponement of a new production, while drawing on its endowment and a $200 million Saudi funding deal; the company may also sell its $55 million Chagall murals to stabilize finances.

via The New York Times|

#business #endowment #layoffs

business8 months ago•2 min saved

Super Micro Computer (SMCI) Eyes $100 Amid Server Market Surge

Super Micro Computer (SMCI) has rebounded strongly with a nearly 40% increase in stock price, driven by rising server shipments for AI infrastructure and a significant $20 billion deal with Saudi Arabia's DataVolt, signaling a global demand for AI servers beyond the US and China. Despite past tariff setbacks, the company's growth prospects remain robust, with a moderate buy rating and a 12-month target of $41.42.

via TipRanks|

#ai-infrastructure #business #saudi-arabia-deal