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Tag: Estee
Estee Lauder cuts 3% to 5% of global workforce as sales and profits slide
Estee Lauder is cutting 3% to 5% of its global workforce, as the cosmetics giant aims to increase profits and become more nimble in a challenging international environment. The layoffs were announced on Monday as the New York company reported falling profits and revenue in the fourth quarter, dragged down by sluggish sales in China. […]
Estee Lauder slashes annual profit forecast, to cut jobs
(Reuters) — MAC lipstick maker Estee Lauder slashed its annual profit forecast on Monday and announced a restructuring program aimed at cutting about 3% to 5% of its workforce to rein in costs. The company said it would start the program in the third quarter of fiscal 2024 and expects to take on restructuring and […]