02.05.24
Estée Lauder Companies reported cutting back up to 3,000 positions as part of the company’s restructuring plan.
As part of a two-year plan, ELC will eliminate a range of 1,800 to 3,000 positions across the globe. This reduction eliminates some positions and will retrain and redeploy certain employees in select areas.
The restructuring process is expected to be completed in the 2026 fiscal year. ELC expects the restructuring will cost $500-$700 million (before taxes) consisting of contract terminations, employee-related costs, asset write-offs and other associated costs.
The company expects the program to yield annual target gross benefits between $350 million and $500 million (before taxes) a portion of which will be reinvested in consumer-facing activities.
As part of a two-year plan, ELC will eliminate a range of 1,800 to 3,000 positions across the globe. This reduction eliminates some positions and will retrain and redeploy certain employees in select areas.
The restructuring process is expected to be completed in the 2026 fiscal year. ELC expects the restructuring will cost $500-$700 million (before taxes) consisting of contract terminations, employee-related costs, asset write-offs and other associated costs.
The company expects the program to yield annual target gross benefits between $350 million and $500 million (before taxes) a portion of which will be reinvested in consumer-facing activities.
