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Sotheby's approves restructuring plan - Form 8-K

Friday, 18 Jul 2014 02:23pm EDT 

Sotheby's:Approves restructuring plan impacting operations in United States and United Kingdom.Says restructuring plan is result of a strategic review conducted by management.Says will result in employee-related restructuring charges of approximately $13 mln in Q3 of 2014.Headcount reductions expected to be fully implemented by end of 2014.Says will provide specific guidance on anticipated cost savings in due course.Management expects net benefit to company's cost base as a result of restructuring plan and resource reallocation. 

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24 Apr 2015