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Estee Lauder to cut 7,000 jobs

05 February 2025 13:04by Редакция

Cosmetics giant Estee Lauder is set to cut 7,000 jobs worldwide, representing 11% of its total workforce.

The company, which owns brands such as MAC, La Mer and Aveda, cited a 6% drop in sales and falling demand in two key Asian markets — China and South Korea — as the reason for the move.

Following the news, Estée Lauder shares fell by 20%. The company announced the start of a major restructuring, with the new chief executive stating that he would focus on launching new products and optimising marketing efforts.

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Estee Lauder to cut 7,000 jobs

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