Tue, 04 Feb 2025

Estée Lauder ramps up job cuts as warns on tariffs

The firm that owns Clinique, MAC and Bobbi Brown shedding double the number of jobs than planned, warning of global volatility.

* Estée Lauder, owner of Clinique, MAC, and Jo Malone, is shedding 7,000 jobs worldwide, double the number initially planned.
* The company cites uncertainty around US President Donald Trump's tariffs as a major factor in its decision to cut costs by $1bn (£805m).
* Rising inflation has driven up costs, and Estee Lauder needs to save money due to the risk of recession and imposition of tariffs and sanctions.
* 62,000 people work for Estée Lauder worldwide, with around 4,400 staff in the UK and Ireland.
* The company did not say where the jobs would be lost, but some staff will be redeployed into new roles.
* Estée Lauder made a loss of $590m (£474m) in the three months to December due to reduced spending in China and Korea.
* This is the latest warning from a major company about the impact of Trump's tariffs on global trade.
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