Not looking good | Cosmetics giant Estée Lauder unexpectedly cuts 7,000 jobs in $1bn cost-cutting push

Estée Lauder is set to eliminate up to 7,000 jobs, more than double its previously announced reduction, as part of a sweeping cost-cutting initiative following another disappointing quarter.

The beauty conglomerate, home to brands like Clinique, MAC, and La Mer, says it aims to slash $1billion in expenses by mid-2025 to counter ongoing revenue declines and global economic uncertainty.