Estée Lauder plans to cut up to 2,000 jobs globally after profits dive
by Sarah Butler from on (#574V3)
Surged in online sales during pandemic not enough to offset temporary closure of outlets
Estee Lauder is planning to cut up to 2,000 jobs worldwide as it shuts stores and department store beauty counters after a slump in sales and profits during the coronavirus pandemic.
The makeup, skincare and perfume company, which also owns brands such as Joe Malone, Clinique, La Mer and MAC, said it intended to shut between 10% and 15% of its freestanding stores, with job cuts amounting to about 3% of its global workforce - mostly in stores as well as related support roles.
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