Estee Lauder plans to cut up to 3,000 more jobs, lifts annual profit forecast

American multinational skin care and beauty products brand Estée Lauder's logo is seen in Hong Kong. Budrul Chukrut | Lightrocket | Estee ​Lauder on Friday ​raised its annual profit forecast and laid out plans to cut up to 3,000 more jobs globally as it accelerates a broad restructuring plan, sending its shares ⁠up ‌about 11% in premarket trading. The Clinique and ⁠M.A.C owner, which is in talks to merge with Jean Paul Gaultier-owner Puig , said it now expects a total reduction of 9,000 to 10,000 positions, up from a prior estimate of ‌as many as 7,000, and aims to save as much as $1.2 billion in costs. More than 70% of the additional cuts ​will come from reducing department store staff roles, the company said as it shifts toward faster-growing digital and specialty retail channels. The company had about 57,000 employees worldwide as of June 30, 2025, according ⁠to its latest annual filing. Restructuring takes hold Estee's focus on boosting premium launches, streamlining the supply ‌chain and ramping up innovation and marketing ‌to strengthen growth under CEO Stephane de La Faverie's turnaround push helped it revive sales in key luxury markets, including China and Europe, during the reported quarter. The company expects ⁠full-year adjusted earnings per share in the range of $2.35 to $2.45, compared with ⁠a prior forecast of $2.05 to $2.25. It expects organic net sales ⁠growth at the high end of its prior range of 1% to 3%. …