Estee Lauder (EL) said Tuesday that it expects to eliminate 5,800 to 7,000 job roles as part of a restructuring plan.
The job cuts will be largely implemented in fiscal 2025 and 2026, with completion in fiscal 2027, Estee Lauder said in its fiscal Q2 earnings release.
The company said it estimates restructuring charges of $1.2 billion to $1.6 billion before taxes, with projected annual savings of $800 million to $1 billion.
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