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Restructuring program could ultimately claim as many as 7,000 jobs.
February 4, 2025
By: TOM BRANNA
Chief Content Officer
The Estée Lauder Cos. increased the number of employees it plans to lay off as part of its restructuring program. Last year, ELC said it would cut as many as 3,000 positions. But after sales fell 6% in the second quarter, the company increased that total to 5,800-7,000. Restructuring is already underway and is expected to be completed in fiscal 2027. It’s all part of ELC’s Beauty Reimagined restructuring program.
As reported, the Q2 decline in sales was driven by double-digit decline in skincare sales. The company blamed challenging retail environments in Asia/Pacific.
The declines are expected to continue. For fiscal Q3, ELC warned organic sales may decline 10%.
ELC has been under fire for months. In November, Jane Lauder stepped down as vice president of enterprise marketing and chief data officer. That move left the company Lauder-less when it comes to day-to-day operations. Some observers speculated she left after trying to oust her cousin William Lauder from the executive chairman’s seat. Last month, Ronald S. Lauder announced he would retire from the board of directors.
The C-suite shakeup began last year when long-time CEO Fabrizio Freda announced his retirement. Stéphane de La Faverie took over on Jan. 1, 2025.
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