During its third-quarter earnings call, the company said layoffs will extend through 2026 as it broadens a restructuring effort that also includes a potential merger with Puig, the Spanish luxury fashion and beauty group.
Estée Lauder said during its third-quarter earnings call that it is expanding its restructuring plan and now expects total job cuts to reach 10,000, up from the previously announced 5,000. The layoffs will continue through 2026. The company is also in the middle of a restructuring process that includes a potential merger with Puig, the Spanish luxury fashion and beauty conglomerate. The announcement points to a deeper cost-cutting effort as Estée Lauder reshapes its business.