Market News

Sotheby’s Plans ‘Modest’ Layoffs

(Courtesy Sotheby's)

COURTESY SOTHEBY’S

Sotheby’s auction house announced Thursday that it will soon downsize a “modest” number of its employees worldwide.

Speaking to an unnamed staff member, The Wall Street Journal reported that a staff meeting announcing the future layoffs “gave the impression that higher-profile sales staff and specialists who directly assist collectors wouldn’t be affected.”

The news comes amdist many shakups at the urgings of activist hedge-fund investor, and now Sotheby’s board member, Dan Loeb. Earlier this week Sotheby’s announced that it will partner with eBay to bring new online bidders to its auctions.

Read more at The Wall Street Journal or CNBC. Thanks to Hyperallergic for pointing us to the story.

Copyright 2016, Art Media ARTNEWS, llc. 110 Greene Street, 2nd Fl., New York, N.Y. 10012. All rights reserved.


  • Issues