Estee Lauder Raises Profit Forecast and Announces Additional Job Cuts
Estee Lauder has raised its annual profit forecast and announced plans to cut up to 3,000 more jobs globally as part of its restructuring efforts. The company's shares rose about 11% in premarket trading following the announcement. The job cuts are expected to bring total reductions to 9,000 to 10,000 positions, with over 70% coming from department store roles.
Tickers: $EL
Topics: cost savings job cuts merger talks profit forecast restructuring stock performance