Reported about 3 hours ago
Estée Lauder announced plans to cut between 5,800 and 7,000 jobs as part of a corporate restructuring aimed at reversing declining sales and adapting to market changes. The company faces dropping revenues, particularly in Asia, amid increased competition and shifting consumer preferences. The restructuring will incur significant charges but aims to optimize operations and enhance market share, especially in the high-end cosmetics sector.
Source: YAHOO