Estee Lauder says it plans layoffs of up to 10,000 jobs worldwide as part of a restructuring aimed at $1.2 billion in annual savings. The total could rise to about 17.5% of its global workforce, with many cuts concentrated in department store roles. The company is also accelerating premium launches and shifting sales toward online and specialty retailers.
MAC cosmetics owner Estee Lauder says it will cut up to 3,000 additional jobs, bringing planned layoffs to 10,000. The company expects the restructure to add about $200 million in savings. Estee Lauder is also reallocating resources toward online channels, including TikTok Shop, betting that digital demand will offset store-level pressure.
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