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.

Estee Lauder will lay off between 5,800 and 7,000 employees after second-quarter sales plummeted 6% and operating income tanked to a $580 million loss.

Estée Lauder said it expects to cut between 5,800 and 7,000 positions as part of its two-year restructuring plan, as it swung to a fiscal second-quarter loss on lower sales. Shares tumbled in early Tuesday trading,