- The company raised its total planned workforce reduction to between 9,000 and 10,000 positions, up from a previous estimate of 7,000, as part of its Beauty Reimagined turnaround plan.
- Over 70 percent of the new job cuts will target point-of-sale demonstration roles at underperforming department stores and freestanding locations.
- Shares of Estée Lauder surged as much as 11 percent in premarket trading following the announcement of a raised annual profit forecast and improved Q3 sales of $3.71 billion.
- Puig CEO Jose Manuel Albesa confirmed that merger negotiations are ongoing but noted that no final agreement has been reached as of May 2026.
- The restructuring is now expected to cost between $1.5 billion and $1.7 billion before taxes, with the goal of restoring organic sales growth for the first time in four years.
Estée Lauder expands job cuts to 10,000 positions amid ongoing Puig merger talks
May 1, 2026, 6:09:14 PM UTC(16 hours ago)
Impact: Medium
Affected Assets
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From:@YahooFinance
Estée Lauder, which is in the middle of a restructuring plan that includes a potential merger with Spanish luxury fashion and beauty conglomerate Puig, announced the expansion of job cuts throughout 2026 during its Q3 earnings call, raising the total to 10,000 from 5,000, in an effort to save up to $1.2 billion annually.
