NEW YORK (AP) — Estee Lauder said it’s expanding its restructuring plan to include job cuts anywhere from 5,800 to 7,000 by fiscal 2026 as the global beauty company tries to boost sales and profits. The announcement on Tuesday comes as the company behind such brands as MAC, La Mer and Aveda, cut its earnings outlook amid subdued consumer sentiment in China and Korea, and global geopolitical uncertainty. Estee Lauder also reported that it swung to a loss in its fiscal second quarter ended Dec. 31 and had a 6% drop in net sales. As of June 30, 2024, Estee Lauder had roughly 62,000 employees worldwide, according to the company’s latest annual filing.
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