US Top News and Analysis | Estee Lauder plans to cut up to 3,000 more jobs, lifts annual profit forecast
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Estée Lauder announced on Friday that it is raising its annual profit outlook while expanding its restructuring plan, which now calls for cutting an additional 3,000 jobs for a total reduction of 9,000‑10,000 positions and projected cost savings of up to $1.2 billion. Most of the new cuts will come from department‑store staff as the company pivots toward faster‑growing digital and specialty‑retail channels. CEO Stéphane de La Faverie’s turnaround strategy is also focusing on premium product launches, supply‑chain efficiency, and increased innovation and marketing, helping revive sales in key luxury markets such as China and Europe. The firm now expects full‑year adjusted earnings per share of $2.35‑$2.45 (up from $2.05‑$2.25) and organic net‑sales growth at the high end of its previous 1‑3% range. Quarterly sales came in at $3.71 billion, beating estimates, and adjusted profit was 88 cents per share, exceeding the 65‑cent forecast.
Read more: https://www.cnbc.com/2026/05/01/estee-lauder-plans-to-cut-up-to-3000-more-jobs-lifts-annual-profit-forecast.html
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