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.

As the company’s sales fell 6 percent in the second quarter, the owner of namesake Estée Lauder, Jo Malone, Tom Ford, Clinique and more, announced plans to ramp up its restructuring program, from 3,000 to between 5,800 to 7,000.

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.

Beauty firm Estée Lauder, owner of cosmetics brands Clinique, MAC, and Jo Malone, is shedding twice the number of jobs than planned, pointing to uncertainty around US president Trump's tariffs as cause for concern.