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.

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%.