HOUSTON (AP) - Houston Symphony musicians on Wednesday canceled a concert scheduled for Saturday and the possibility of more scrapped performances loomed as labor tensions heightened.

The 97 musicians decided on the walkout when, according to a news release, the Houston Symphony Society informed them it would impose pay cuts, reductions of orchestra positions and increased health costs as of Saturday.

"We regret the inconvenience caused to our loyal audiences by our decision," said tuba player Dave Kirk, spokesman for fellow musicians. "We hope our action brings a swift resolution to the issues critical to the symphony's future success."

In a response news release Wednesday evening, the society announced plans to go ahead with scheduled concerts Sunday and Monday, which it said musicians have agreed to play.

"The musicians' walkout causes a major inconvenience for symphony patrons and results in a significant loss of revenue for the Houston Symphony, which is already battling to overcome a severe financial crisis," the release said. "The announcement by the musicians was all the more surprising since negotiations are still continuing."

Musicians have been playing without a contract since early October. Citing mounting losses that are moving the society ever closer to its $6 million debt ceiling, the society has asked musicians to give up most of their nine-week paid vacations, which players say amounts to more than $10,000 per orchestra member.

The players have said a walkout was likely if the society took the step of imposing new terms, which musicians say will place Houston far behind like-sized cities in terms of artist compensation and -- they say -- eventually will reduce the symphony's quality.

"Through this protest, we aim not to highlight a dispute, but to offer our view of a possible future, one building on our accomplishments," Kirk said.

Musicians say the symphony, through improved fund-raising among corporations and individuals and with a new home to replace aging Jones Hall, can improve its endowment and become more self-sufficient.

While the society acknowledges it needs to do a better job of attracting money, it says cutbacks are necessary for the short-term survival of the 90-year-old symphony.

The canceled performance, scheduled for 8 p.m. Saturday at Jones Hall, was the opening night of three Shakespeare-inspired concerts titled "Sibelius, Strauss and the Bard." The concerts are to feature Maestro Hans Graf leading the musicians, including renowned visiting violinist Midori, in Jean Sibelius' "The Tempest" and Richard Strauss' "MacBeth."