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.

Key Takeaways Estée Lauder reported a surprise loss and warned about current-quarter results as sales declined.The cosmetics company was especially impacted by slowing demand in China and the rest of the Asia-Pacific region.

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.

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,

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.