To reduce no one will have

After the staff of Sotheby's offered voluntarily submit the letter of resignation at own will with receiving higher compensation, the management of the auction house has received sufficient number of applications in order not to resort to compulsory cuts. Recall that the letter with the offer voluntary to leave were sent to the staff due to the loss suffered by the auction house in the third quarter of 2015 and the fall of the stock price of Sotheby's at 16 %. Reducing staff (at the end of 2014 there were over 1 500 people), management of the auction house hopes to cut costs in the new economic realities.

Among the employees who submitted the resignation at own will, was Executive Vice@Sotheby's ndashпрезидент Mitchell Zuckerman (Zuckerman Mitchell), who held the position since 2011. Previously (from 1988 to 2011) the Zuckerman was President and Chairman of the financial services of the auction house.

In General, the number of people willing to leave their positions for higher compensation was "unexpectedly large", — noted in its submission, the Times journalist Robin Pogrebin (Robin Pogrebin). However, this proposal was subsequently adjusted in the way that voluntary dismissal helped the company to achieve the cost reduction.

the Material was prepared by Maria Onuchin, AI

Sources: artnet.com, artinvestment.ru