February 5, 2025

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Estée Lauder to Cut Up to 7,000 Jobs
Beauty giant Estée Lauder is set to lay off between 5,800 and 7,000 employees as it struggles with declining global sales and uncertainty over US tariffs under Donald Trump. The company, which owns Clinique, MAC, Jo Malone, and Tom Ford, reported a $650 million quarterly loss, citing weaker demand in China and Korea. The job cuts are part of a $1 billion cost-saving plan, as the firm navigates rising inflation, trade tensions, and potential retaliatory tariffs.