The Phoenix Symphony announced on Oct. 20 that it will suspend operations following its scheduled performance on Sunday, Nov. 1, citing a financial shortfall.

The remaining 2026-27 performances and programs will be suspended until further notice, and layoffs of musicians will take effect Monday, Nov. 2. The orchestra said it lacks the financial resources to continue the season, as ongoing operating deficits have left it with substantial financial obligations.

The Symphony said its board and management had tried to close the gap through the $60 million CRESCENDO fundraising and endowment campaign, launched in April 2025, and through administrative cost reductions of approximately $766,000, with that effort continuing. They also consulted with musician representatives. Revenues rose by more than 50 percent between FY2024 and FY2026, but the orchestra said essential costs also increased, most endowment gifts cannot be used for day-to-day operations, and philanthropic contributions for the current fiscal year fell short of what was needed.

The Symphony said the season has been suspended rather than canceled and that its goal is to reopen as soon as possible. It said it is not yet known when, or whether, performances will resume. During the suspension, the board and management will evaluate outstanding obligations and operating costs, review revenue assumptions and fundraising needs, and determine the conditions required for a sustainable return. The orchestra said it will share its financial recovery plan publicly as soon as possible.

“This is the most difficult decision this Board has faced, and we did not make it lightly,” said Mo Stein, Chairman of the Board of The Phoenix Symphony, per an official press release. “We have diligently pursued measures to close the gap between operating costs and revenues, and our efforts have not yet been enough. Continuing the season without the cash flow to meet our immediate obligations would put the institution’s future at greater risk. Our responsibility now is to minimize further losses, create a robust restructuring plan and build a financial foundation that will last.”

The Symphony said it is communicating directly with affected musicians and employees about employment status, compensation and benefits. Subscribers and other ticket purchasers will be notified about their options once arrangements are finalized.