Five Percent of Sotheby’s Employees Take Buyout

December 16th, 2015

About 5% of Sotheby’s employees have taken the auction house up on its buyout offer, according to records filed with the SEC Monday, the NYT reports.  The buyout was part of an effort by the company to “achieve both the efficiencies from which our organization would benefit, as well as create enhanced professional development and leadership opportunities for those who will steer Sotheby’s into the future,” according to CEO Tad Smith.

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