Estée Lauder, the cosmetics giant, has announced plans to cut between 6,000 and 7,000 jobs globally due to declining sales. The company, facing headwinds from softening demand in key markets and struggling to recover fully from pandemic-related disruptions, is implementing a restructuring plan aimed at streamlining operations and focusing on profitable areas. This move reflects the challenges facing the beauty industry as consumer spending habits shift and competition intensifies. The job cuts represent a significant portion of Estée Lauder's workforce and signal a strategic shift as the company seeks to navigate a changing market landscape and regain growth momentum. The restructuring is expected to generate significant cost savings, which Estée Lauder plans to reinvest in brand building and innovation to drive future performance.
BBQ - What alternative strategies could the company have explored to boost sales and potentially avoid such significant job losses?
