Christie's has announced that it is planning “a companywide reorganization which includes significant staff reductions,” reports Bloomberg.

“There’s a consultation process going on at the moment, so we’re not in a position to comment on numbers,” said Alexandra Buxton, the house's European head of public relations. Christie's employs about 2,100 people worldwide, she said.

The cuts will be global, the company announced in a statement, and the restructuring will take place “over the next three to four months,” Jussi Pylkkanen, president of Christie’s European operations, told Bloomberg. “We are not going to revise our auction schedules for any of the main markets.”

The announcement comes after a disappointing fall auction season for both Christie's and its competitors. Christie's announced in December that it would review its strategic plans as a result of the poor sales figures and sinking economy, and it has already shrunk its London-based wine and book departments and closed its modern and sporting-gun section.

Sotheby's announced in December that it will make cuts to salaries and other related costs totaling $7 million in 2009, and Bonham's has confirmed that it is looking into cutting staff as well.