Sotheby's to cut jobs

July 18 Fri Jul 18, 2014 2:38pm EDT

July 18 (Reuters) - 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.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Savio D'Souza)

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