“Sotheby’s, the world’s largest auctioneer by sales, will slash its dividend to 20 cents a year from 60 cents and plans further job cuts to reduce costs because of a decline in the art market and the wider economy. The company aims for a further 5 percent drop in global headcount following a 15 percent reduction being achieved under cuts announced last year. Executive pay is being squeezed by at least 10 percent….”