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Estée Lauder to cut up to 7,000 job cuts
Job Cuts At Estée Lauder, Up To 11% Or 7,000 Employees, After Sales Decline
Estee Lauder will lay off between 5,800 and 7,000 employees after second-quarter sales plummeted 6% and operating income tanked to a $580 million loss.
Estee Lauder to cut up to 7,000 jobs
Estee Lauder now intends to slash up to 7,000 positions from its workforce, the cosmetics company, known for brands like Mac and Clinique, announced Tuesday.
Estée Lauder is trying to fast-track premium products. But it’s cutting jobs, and is the S&P 500’s worst performer today.
Estée Lauder on Tuesday announced plans to cut thousands of jobs and speed up its product development to reclaim relevance in higher-end beauty, after the company swung to a quarterly loss and offered a dimmer outlook amid wobblier shopper sentiment in Asia.
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Why Estee Lauder Plunged This Week
Shares of makeup conglomerate Estee Lauder ( EL -2.55%) plunged 23% through Thursday trading this week, according to data from S&P Global Market Intelligence.
2d
on MSN
Estée Lauder sinks nearly 20% on weak quarterly sales; plans to slash up to 7,000 jobs
Shares in the Manhattan-based company, founded and controlled by New York’s Lauder family, plunged as much as 18% after Estée ...
1d
Estee Lauder: Painful Quarter, But Shares Remain Sharply Undervalued
Estée Lauder beat on both the top and bottom lines despite weak demand. See why EL stock is undervalued following a tough ...
2d
on MSN
Estée Lauder to cut up to 7,000 jobs as sales fall
Estee Lauder is the latest company to warn of the impact a tit-for-tat tariff war could have on their fortunes. Drinks giant, ...
2d
on MSN
Estée Lauder Revenue Beats Estimates
Source: Estée Lauder. Analyst estimates provided by FactSet. Overview of Estée Lauder Companies. Estée Lauder is an iconic ...
3d
Stéphane de La Faverie Unveils New Organizational Structure and Executive Team to Revitalize Estée Lauder
One month into his new position, Stéphane de La Faverie, president and chief executive officer of the Estée Lauder Cos., is ...
2d
Estee Lauder Layoffs Languish EL Stock
Cosmetics company Estee Lauder (EL) saw its stock plummet on Tuesday after announcing plans to cut up to 7,000 jobs. The ...
4d
on MSN
Is Estée Lauder a Buy, Sell, or Hold in 2025?
The stock is down a whopping 78% from its peak during the pandemic, as a combination of weakness in China, market share ...
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