Estee Lauder Beats Sales Forecasts and Expands Job Cuts
Estee Lauder reported sales of 3.71 billion dollars behind growth in China and Europe. The firm now expects to cut up to 10,000 jobs under its turnaround.
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The Estee Lauder Companies Inc. (EL) beat Q3 sales estimates with $3.71 billion in revenue and expanded planned job cuts to 10,000 positions. Revenue exceeded LSEG estimates of $3.69 billion as sales recovered in China and Europe. The expanded restructuring signals a deeper pivot toward profitability under CEO Stephane de La Faverie's turnaround strategy.
