NY Metropolitan Opera could go bankrupt in 'in two years'

The boss of New York's Metropolitan Opera has said it will "face a bankruptcy situation in two or three years" if it does not cut its wages bill.

General Manager Peter Gelb was speaking to BBC Radio 3's Music Matters programme about the Met's current funding issues.

He proposed cutting 16% of its $200m (£119m) labour costs by changing work rules for the orchestra and chorus, reports BBC News.

Gelb also defended spending $169,000 (£100,000) on a poppy field stage set for the opera Prince Igor.

Unions have already threatened strike action over the proposed pay cuts, which are up for debate before the players' current contracts expire at the end of July.

"What's at stake, ultimately, is the future of the Met Opera," Gelb told Music Matters' presenter, Tom Service.

"I'm just trying to address this problem a few steps before the edge of the precipice instead of waiting until we are actually on the precipice."

He continued: "Even if I was the worst manager in the world, if two thirds of the cost structure is going to the unions, clearly that's an area that has to be cut."

He hopes to change rules that currently guarantee members of the orchestra and chorus get paid for at least four performances a week, when they usually perform less.