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ESTEE Lauder announced on Tuesday that it will reduce up to 7,000 positions from labor.
The cosmetics company announced the updated “Recovery and Growth Plan”, and stated that it would eliminate 5,800-7,000 roles on Tuesday's second quarter of financial results.
The number of positions affected by up to 3,000 positions in detail in the details of last year is “considering the re -training of certain employees in a specific region and eliminating the position after redevelopment.” I mentioned.
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Throughout the second quarter, the company stated that “net income” was “net income” rather than “expectation” rather than expected, but they “to recover the dolarge of sales and sustainable growth. A company that promotes investment, inflation, and strengthens the “recovery and growth plan” and the reorganization program in it.
On October 3, 2024, a couple walks near the Estee Lauder Store in Kuala Lumpur, Malaysia. (Faris Hadziq/SOPA images via Getty Images/Getty Images)
The company expects to be reorganized and other claims between taxes and $ 1.6 billion before the tax is completed.
The reorganization is predicted to bring annual savings before tax from $ 800 million to $ 1 billion per year. Estee Lauder said, “In order to promote sustainable sales growth, it will help you recover sales margins for consumers and reinvest fuel.”
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| Elle | EstéelauderCompanies Inc. | 69.05 | -13.74 |
-16.60 % |
The expansion of the overall turnaround plan returns the cosmetics company to the growth of sales, opens the path to the “two -digit adjusted operation margin”, and manages external volatility such as potential tariffs. Estee loader is increasing globally.
The history of Estee Lauder, one of the world's leading cosmetics brands, begins with $ 800 sales.
In procurement, the company “further integrates expenditures and strategically re -evaluates major suppliers strategically”, minimizes excessive inventory and product destruction by improving supply chain efficiency, and “have been proven. “Select a service to a global partner.”
Estee Lauder is aiming to complete the “recovery and growth plan” in FY2027, and many measures will be implemented in 2025 and 2026.
In this photo, the logo of the Estee Lauder Company is displayed on the smartphone screen. (Lightrocket via PIOTR SWAT/SOPA image/getty images/getty images)
“I am aware that there are a lot of things to do, but I am convinced that what the beauty is again imagining is a way to realize our ambition,” said CEO's Stephane de La Fever. I mentioned.
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The news of labor reduction and its second quarter result lowered by more than 17 % of Estee Lauder shares on Tuesday.
The company is known for brands such as Mac, Clinique, too FaceD, and Bobbi Brown.
