Estée Lauder announces job cuts

Published: 5-Feb-2009

The Estée Lauder Companies has announced it is to cut 2000 jobs over the next two years, following one of the worst holiday seasons it has experienced in forty years.


The Estée Lauder Companies has announced it is to cut 2000 jobs over the next two years, following one of the worst holiday seasons it has experienced in forty years.

Net profit for the second quarter, ended 31 December fell to $158m, compared to a profit of $224.4m a year earlier. Sales for the period were also down 11.6% on 2007’s figures.

The job cuts are part of a wider four-year plan by manufacturer, which also involves a restructuring plan to cut costs and boost sales overseas.

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