Estee Lauder announced a significant job reduction plan, increasing cuts from 3,000 to as many as 7,000 jobs worldwide. This decision aims to save $1 billion as the company adapts to the economic challenges posed by potential tariff increases under the Trump administration. The plan aligns with a broader strategy to transform the company's operating model, which is essential for reviving sales growth and achieving a robust adjusted operating margin in the coming years amid ongoing external volatility.
The expanded plan is designed to further transform the company's operating model to fund a return to sales growth and restore a solid double-digit adjusted operating margin over the next few years, and continue to manage external volatility, such as potential tariff increases globally.
As part of a cost-saving overhaul, Estee Lauder will increase job cuts from 3,000 to up to 7,000 globally to save $1 billion, preparing for further challenges.
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