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Some of these layoffs will hit US department stores and are expected to save Estee Lauder $1.2 billion a year before taxes.
The company has actually raised its profit outlook—now expecting $2.35 to $2.45 a share—and is targeting a modest sales growth of 3%.
After Stephane de La Faverie became CEO, shares jumped nearly 60%, but have since dropped by 27% this year amid disappointing results and ongoing merger talks with Puig Brands SA.
Still, many see the digital push as a much-needed move for a fresh start.