Sotheby’s Plans Furloughs, Pay Cuts as Coronavirus Keeps Offices Closed

With the coronavirus pandemic having forced closure of most major auction houses worldwide, Sotheby’s has announced staff furloughs, pay cuts, and layoffs across its global offices. Yesterday, the Wall Street Journal reported that Sotheby’s, which employs around 1,700 people across all of its locations, will furlough 12 percent of its staff members, or around 200 employees. (Sotheby’s representatives have yet to confirm an exact number.) On Wednesday, Sotheby’s CEO Charle