Sotheby’s To Cut Jobs
Sotheby’s said it would cut an unspecified number of jobs as part of a restructuring plan, months after ending a long-running battle with billionaire investor Daniel Loeb by appointing him to its board. The plan, mainly impacting the auction house’s U.S. and UK operations, will result in employee-related restructuring charges of about $13 million to be recognized in the third quarter, the company said.
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