Beauty company Estee Lauder plans to cut up to 7,000 jobs by 2026 due to declining sales and global economic uncertainty. The move comes after the company lost money in its most recent quarter, with sales down 6% from last year. Estee Lauder expects to incur $1.2 billion to $1.6 billion in restructuring charges related to the job cuts. CEO Stéphane de La Faverie announced a significant transformation of the company’s operating model to make it leaner and more agile.
Source: https://apnews.com/article/estee-lauder-job-cuts-ebe8c697c223fb6cd022c96c7338b856