Makeup brand to cut 2,000 jobs
By Sarah Wood | 21st August 2020
Wearing makeup hasn't been a priority during lockdown and endless months of working at home, now cosmetics brand Estee Lauder says it needs to cut 2,000 staff.
The company, which includes the M.A.C and Too Faced makeup brands, was hit by a double whammy of closed stores and reduced demand through people staying at home, as reported by Retail Gazette.
Estee Lauder has makeup counters across the county, including at branches of Boots and Gloucester's Debenhams store.
Sales fell 32 per cent to £1.82 bn in the quarter covering March to June. For the year to June as a whole, sales of its makeup were down 18 per cent.
The company operates in 150 countries and is expected to cut 1,500-2,000 jobs worldwide, as well as 10 per cent of its retail space globally. It hasn't yet confirmed where the job cuts will fall.
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