Estee Lauder to slash 7,000 jobs globally

Estee Lauder is set to cut up to 7,000 jobs globally, ramping up its initial target of 3,000. The move is part of a broader cost-saving strategy aimed at generating up to $1 billion in savings. The company, which employs around 62,000 people worldwide, cites external volatility as a key driver behind the decision.