Cosmetics giant Estée Lauder Estee Lauder announced a major restructuring plan on Tuesday that includes slashing up to 7,000 jobs as the company grapples with persistent demand weakness — sending its shares spiraling nearly 20%.The Manhattan-based company, founded and controlled by New York’s Lauder family, said it will cut about 10% of its workforce as part of the expanded turnaround plan under new CEO Stéphane de La Faverie, who took over on Jan. 1.The company now expects third-quarter profit to come well ...