Estée Lauder is slashing up to 10,000 jobs, mainly in stores

Estée Lauder expects to cut a total of 9,000 to 10,000 jobs. That is 3,000 more than previously anticipated, mainly in department stores and company-owned stores. However, quarterly sales and the annual forecast are actually on the rise.

70% of retail employees

The cosmetics giant’s net revenue rose by 5% in the past (third) quarter to $3.7 billion (€3.44 billion), with growth across all categories, including makeup, skincare, and fragrance. The company is therefore raising its outlook for the full fiscal year and now expects organic net revenue growth of around 3%.