Estée Lauder lays off 2,600 workers, out of its 7,000 target, as sales drop - MarketWatch
1. Estée Lauder plans to cut up to 7,000 jobs, including 2,600 already cut. 2. Third-quarter sales fell 10%, with profits dropping 42% year-over-year. 3. Company's gross margins improved by 310 basis points due to cost-saving measures. 4. Global travel retail sales expected to decline further amid weak consumer sentiment. 5. Adjusted EPS estimates for 2025 are down from $2.59 to $1.39 according to analysts.