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Estee Lauder to Trim 3% of Global Workforce to Curb Costs

  • As many as 2,000 jobs will go as company pivots toward digital
  • Up to 15% of stores will close, plus some beauty counters
A sales assistant arranges lipsticks at an Estee Lauder Companies Inc. store.

A sales assistant arranges lipsticks at an Estee Lauder Companies Inc. store.

Photographer: Qilai Shen/Bloomberg
Updated on

Estee Lauder Cos. is cutting jobs and closing stores as part of a multiyear restructuring plan after the coronavirus pandemic threw the cosmetics industry into disarray.

The beauty giant plans to reduce its workforce by 1,500 to 2,000 jobs worldwide, or about 3% of total staff, and boost its digital operations after pandemic lockdowns hit demand for makeup. Most of the cuts will be store employees and support workers, the company said Thursday.