Another Round of Reductions at Chritie's

Bloomberg is reporting that Christie's again is reducing staff. Christie's a privately held company did not release the numbers of jobs being lost but did state it was less than the previous round of reductions. The rationale behind the cut is reducing costs due to the lower level of sale in the art market, especially those in the contemporary segment.

The NY Times is also reporting that Guy Bennett, a co-head of Christie’s Impressionist and Modern art department worldwide, has resigned from the auction house.

“I’m going to take some time off,” he said on Wednesday, “and see what my options are in the fall.”

A 12-year Christie’s veteran, Mr. Bennett has been one of the company’s biggest rainmakers. Most recently he ran the international Impressionist and Modern art department with Thomas Seydoux. Officials at Christie’s said Mr. Seydoux would assume full responsibility of the department worldwide.

It will be interesting to see where Guy Bennett shows up next. With his connections and expertise in the contemporary and modern art genre, possibly as a gallery owner, dealer, consultant/authenticator, or perhaps curator.