2025-09-02 16:14:34
Estée Lauder Companies Approves 3,200 Job Cuts
2025-09-02 16:14:34
Following its full-year report and weakness in Asia and travel retail, ELC expands its restructuring plans.
Assistant Editor
The Estée Lauder Companies approved of 3,200 job cuts due to weak sales in China and duty-free markets. Restructuring is expected to be completed by the end of 2026.
The company signaled it could reduce headcount by another 3,800 with expected restructuring charges of up to $1.6 billion.
In a statement, ELC said,
“The Company now estimates a net reduction in positions of 5,800 to 7,000, including approvals to date. This net reduction takes into account the elimination of positions after retraining and redeployment of certain employees in select areas. Approvals for specific initiatives under this restructuring program, in total, are still expected to be completed by the end of fiscal 2026.”
This follows the recent fiscal 2025 financial report. In fiscal 2025, sales fell 8% to $14.3 billion. Operating margin fell from 6.2% to 5.5%.
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