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Estée Lauder to cut up to 7,000 job cuts
Massive Job Cuts At Estée Lauder, Up To 11% Or 7,000 Employees, After Quarterly Sales Decline 6%
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 is trying to fast-track premium products. But it’s cutting jobs, and is the S&P 500’s worst performer today.
Estée Lauder on Tuesday announced plans to cut thousands of jobs and speed up its product development to reclaim relevance in higher-end beauty, after the company swung to a quarterly loss and offered a dimmer outlook amid wobblier shopper sentiment in Asia.
Estee Lauder to cut up to 7,000 jobs
Estee Lauder now intends to slash up to 7,000 positions from its workforce, the cosmetics company, known for brands like Mac and Clinique, announced Tuesday.
4h
Estée Lauder Companies’ (EL) Market Perform Rating Reaffirmed at Telsey Advisory Group
Estée Lauder Companies (NYSE:EL – Get Free Report)‘s stock had its “market perform” rating reaffirmed by equities researchers ...
1d
on MSN
Estée Lauder sinks nearly 20% on weak quarterly sales; plans to slash up to 7,000 jobs
Shares in the Manhattan-based company, founded and controlled by New York’s Lauder family, plunged as much as 18% after Estée ...
3h
Evercore ISI Sticks to Its Buy Rating for The Estée Lauder Companies (EL)
Evercore ISI analyst Robert Ottenstein maintained a Buy rating on The Estée Lauder Companies (EL – Research Report) yesterday and set a price ...
1d
on MSN
Estée Lauder Stock Is Tumbling. Blame a Huge Charge and Disappointing Outlook.
Luxury beauty brand Estée Lauder offered weak guidance on its earnings, saying it will take more than $1 billion in pretax ...
10h
Estée Lauder Continues To Disappoint (Rating Downgrade)
Estée Lauder reported another quarter of weak sales and declining margins as its China and travel businesses struggle. Read ...
21h
Analysts Offer Insights on Consumer Cyclical Companies: Chipotle (CMG) and The Estée Lauder Companies (EL)
Companies in the Consumer Cyclical sector have received a lot of coverage today as analysts weigh in on Chipotle (CMG – Research Report) and ...
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