Esteee Lauder, a New York cosmetics company, announced plans to reduce from 5800 to 7,000 jobs to a tax 12 months due to a decrease in sales. These reductions of jobs include the elimination of three,000 positions which have already been approved as a part of a two -year restriction announced in February 2024, said Libn spokeswoman of the corporate.
The cosmetics giant is a large employer at Long Island. A spokeswoman said that his eight buildings are mainly in Melville, which becomes a very important business center for the corporate.
The company said that the restructuring plan will probably be designed to increase sales and profits after the corporate has reported a 6 % decrease in sales. His brands are Mac, La Mer and Aveda.
Esteee Lauder expects to reserve restructuring and other fees related to job reduction of $ 1.2 to $ 1.6 billion before tax. According to the newest annual application, the corporate had about 62,000 employees around the globe. According to published reports, the corporate is taken into account considered one of the biggest employers in Suffolk, from as many as 2,500 employees.
“We significantly transform our operating model so that it is slimmer, faster and more agile,” said the overall director of Stéphane de la Faverie last month, who became one of the best director of the corporate.
The company softened the prospects of profits since the economy of China and Korea slowly except global geopolitical uncertainty. China announced a retaliation tariffs about some American imports and antitrust investigation on Google on Tuesday, just a jiffy after the growing fee for Chinese products imposed by US President Donald Trump
The presence of Estee Lauder on Long Island includes production places in Melville, where scientists and inventors work on products, packaging and logistics systems. The company’s laboratory is at 65 Maxess Road in Melville. And as Libn reports in 2024, Estee Lauder rented 43,000 square feet on the two corporate day of driving, also in Melville.
In 2022, the corporate cooperated with Farmingdale State College, becoming an anchor tenant at Broad Hollow Science Park in the College campus. There, State Students Farmingdale have educational opportunities to prepare for research and development roles in the corporate.
Estee Lauder spokesman didn’t immediately answer to a comment on how possible work cuts can affect Long Island.
The Associated Press contributed to this report.