TG盗号软件全功能破解技术|【唯一TG:@heimifeng8】|黑帽SEO快排图✨谷歌搜索留痕排名,史上最强SEO技术,20年谷歌SEO经验大佬✨Estee Lauder expands restructuring plan with 7,000 job cuts, posts sales beat
Reuters Published
February 4, 2025
Estee Lauder on Tuesday expanded its restructuring plan that would include up to 7,000 job cuts and posted smaller-than-expected drop in second-quarter sales.
Shares of the company, which fell about 49% last year, were marginally down in premarket trading.
The company said that the expanded plan is to help Estee Lauder return to sales growth and restore a solid double-digit adjusted operating margin over the next few years along with the aim to "manage external volatility, such as potential tariff increases globally."
As part of its turnaround efforts to drive profit recovery, the company has been implementing restructuring programs, which include a series of changes in the executive team after Stéphane de La Faverie took on the role of Chief Executive Officer in January.
Estee Lauder expects to take restructuring and other charges of between $1.2 billion and $1.6 billion, before taxes, consisting of employee-related costs, contract terminations, asset write-offs, and other costs associated with implementing these initiatives.
The company's sales fell 6% to $4 billion in the quarter, compared with analysts' estimates of 7.3% drop to $3.97 billion, as per data compiled by LSEG.