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 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 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

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.

A restructuring plan is underway to kick-start sales after the conglomerate reported a 6 per cent sales dip in Q2.

Estee Lauder employs around 62,000 people worldwide, and said the final figure of jobs losses would be between 5,800 and 7,000, with some staff redeployed in new roles. The company did not say where the jobs would be lost.

Estee Lauder on Tuesday expanded a restructuring plan that would now involve up to 7,000 job cuts as the cosmetics giant grapples with persistent demand weakness especially in Asia, sending its shares down 19%.

Estee Lauder slashing up to 7,000 jobs as it braces for tariff increases - The beauty giant behind Estee Lauder, Clinique and Jo Malone is ramping up its job loss programme from 3,000 to between 5,800 and 7,