Estée Lauder Laments ‘Lost Agility' and Cuts up to 7K Jobs
Estée Lauder(EL) PYMNTS.com·2025-02-05 04:16
Consumer pullback around the world is leading Estée Lauder to cut thousands of jobs.The beauty brand released earnings Tuesday (Feb. 4) showing declining or flat sales in its markets around the globe, especially in Asia, where sales fell by double digits.Speaking to analysts during an earnings call, CEO Stéphane de La Faverie discussed some of the factors that have hurt the company’s performance in recent years, including “subdued” consumer sentiment in China and a “narrow focus” on too few markets.“This wa ...