Estée Lauder Companies (ELC) is having a rough start to 2025.
Lagging second-quarter results, significant job cuts and a weak Q3 forecast, which led stocks to slump by 19%, have placed the US beauty giant in a precarious situation.
Its freshly minted CEO Stéphane de La Faverie, who succeeded 16-year ELC veteran Fabrizio Freda in January, has wasted no time in addressing the business’s shortcomings.
But it means that an estimated 7,000 staff roles are expected to be cut by the end of fiscal 2026.
“When there is a new CEO, it is not uncommon for them to want to put their stamp on things, but also to have fresh eyes, a fresh perspective and more control,” Miles Hacking, Insolvency Lawyer and Director at law firm Freeths, told Cosmetics Business.
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