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Estée Lauder, which owns brands such as Clinique, MAC and La Mer, is cutting as many as 7,000 jobs! This restructuring effort comes after a slowdown in sales, particularly in Asia. They expect sales to decrease by 10% to 12% through the first three months of 2025. The company also advised that geopolitical instability, including potential tariffs, would drag on business.
Estee Lauder's stock price was down almost 50% in 2024, and there's a new CEO coming in the new year to try and revitalize the company. How did the company tank so low? What do China, Microsoft and OpenAI's ChatGPT have to do with anything? And what efforts are going to be put in place to save the brand? Watch this episode of The Devil Wears Data to find out :)
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Tags: #beauty #business #businessnews #businessofbeauty #bloomberg #finance #finances #stockmarket #stockprice #esteelauder #estéelauder #makeup #skincare
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