The company anticipates restructuring and other charges of between $1.2bn and $1.6bn as it overhauls the business.

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.

ELC’s new President and CEO Stéphane de La Faverie, who stepped into the role in January, has also unveiled his vision to restore the company’s sales growth