Estee Lauder stock jumps 12% after profit outlook rises and job cuts deepen
Updated
Updated · The Wall Street Journal · May 1
Estee Lauder stock jumps 12% after profit outlook rises and job cuts deepen
16 articles · Updated · The Wall Street Journal · May 1
The beauty group said it now plans to eliminate 9,000 to 10,000 jobs, up from its earlier target of 5,800 to 7,000.
The expanded cuts are part of Estee Lauder's turnaround plan, with investors pushing shares sharply higher in premarket trading.
Earlier reports said the restructuring targets $1 billion to $1.2 billion in annual gross benefits, with many cuts affecting point-of-sale roles as the company shifts toward faster-growth channels.
Could Estee Lauder's shift to digital channels and mass layoffs undermine its brand identity and customer loyalty in the long run?
If Estee Lauder merges with Puig, will the combined company overcome integration risks and truly challenge L'Oréal's dominance?
How might Estee Lauder's focus on AI-powered beauty tools and social commerce reshape the future of in-store beauty jobs?