Josh Baer reports through his Baerfaxt newsletter that Pace Wildenstein has laid off 12% of its staff:.

PaceWildenstein has officially confirmed to us that last week they laid off 18 employees out of a total of 146 staff members. “as painful as this process was, it was necessary and necessary to do right at the  start of difficult economic times. Just as it was necessary in the early 80’s and the early 90’s when we underwent layoffs at the start of those recessions.”

Matthew Marks confirmed to Baer that they had laid of only 4 of their 24 employees.

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