Volpe worked for the Met for 42 years and ran the company for 16 seasons until Peter Gelb took over as general manager in July 2006. Most of the Met's labor contracts expire at the end of the 2010-11 season.
Gelb said in a statement Friday that Volpe was being brought back "because of his proven skill as a negotiator."
Senior management took a 10 percent pay cut on Dec. 1, 2008, and the rest of administrative staff took a 10 percent cut last Aug. 1. Stagehands who had been due a 2.5 percent salary raise in June delayed it until the 2010-11 season.