Estee Lauder on Friday raised its annual profit forecast and laid out plans to cut up to 3,000 more jobs as it accelerates a broad restructuring plan.
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Estee Lauder
on Friday raised its annual profit forecast and laid out plans to cut up to 3,000 more jobs globally as it accelerates a broad restructuring plan, sending its shares up about 11% in premarket trading.
The Clinique and M.A.C owner, which is in talks to merge with Jean Paul Gaultier-owner Puig
, said it now expects a total reduction of 9,000 to 10,000 positions, up from a prior estimate of as many as 7,000, and aims to save as much as $1.2 billion in costs.
Combination of US and Spanish companies would create $40bn fashion and beauty group
The deal would create a global beauty giant, uniting brands such as Tom Ford, Bobbi Brown and Rabanne.
Estée Lauder said Monday the company is in talks to potentially merge with Spanish beauty company Puig.
Shares of Puig Brands soared as much as 15% Tuesday after beauty peer Estée Lauder confirmed it is in talks about merging the two…
El grupo de la cosmética y perfumería ha perdido un 80% de su valor y está en pleno proceso de reestructuración para reanimar un…
Tie-up between US and Spanish groups would create a $40bn beauty giant
