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Estee Lauder announced on Tuesday that it plans to reduce up to 7,000 positions from its workforce.
The Cosmetic company He said it would exclude a network of 5,800 to 7,000 roles because it introduced an updated “Restoration and Growth Plan” and published its financial results in the second quarter on Tuesday.
Number of affected positions, up to 3,000 positions Detailed last year“It will take into account the removal of positions after retraining and moving some employees in selected areas,” Estee Lauder said.
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The company said “she realized more clean benefits” of their turnover plan “than expected” during her second second quarter, but “more than compensated by the volume of sales, investment to restore sustainable growth and inflation”, which caused the company to strengthen the company its “plan of recovery and growth of profit” and Restructuring program inside it.
A few walks in the Estee Lauder store in Kuala Lumpur in Malaysia 3 October 2024. (Faris Hadziq/SOPA Images/Lightrocket via GetTy Images/Getty Images)
The company expects restructuring and other fees in the total amount of $ 1.2 billion and $ 1.6 billion, before taxes, at a time when they complete the restructuring.
She assumed that restructuring would bring annual gross savings before tax in the range of $ 800 to $ 1 billion, funds that Estee Lauder said to “help restore the operating margin, and also strengthen reinvesting in areas facing consumers to increase sales growth”.
| Ticker | Security | Last | Conversion | Change % |
|---|---|---|---|---|
| HE | The Estée Lauder Companies Inc. | 68.77 | -14.02 |
-16.93% |
The expansion of the overall turnover plan is trying to bring the cosmetic company back to growth in sales, prepare a way for “solid double -digit modified operating margin in the next few years” and help “continue to manage external volatility, such as potential tariff is increasing,” Estee Lauder said Lauder .
History Estee Lauder, one of the world's leading cosmetic brands, starting with the sale of $ 800
The events that the Company said to be a business include “additional consolidation expenditures and strategic re -evaluation of relations with suppliers” in public procurement, minimize excess stocks and destruction of products through improved supplier chain efficiency and outsourcing “select services for global partners”.
In the fiscal year 2027, Estee Lauder is trying to complete his “plan to recover and grow profit”, according to the company, according to the company, there are many measures to be taken in the fiscal year 2025 and 2026.
In this photo, the ESEE Lauder logo will appear on the smartphone screen. (Piotr Swat/Sopa Images/Lightrocket through Getty Images/Getty Images)
“Although we realize that we need to do a lot of work, we are sure that beauty is a reimaginated way to realize our ambitions,” said Stephane de la Faverie, CEO of Stephane de la Faverie.
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The reports of the reduction of the workforce and its results in the second quarter sent ESEE Lauder shares of more than 17%.
The company is known for brands Like Mac, Clinique, too face to face and Bobbi Brown.
