Here is the result:
Beauty firm Estée Lauder, owner of cosmetics brands Clinique, MAC, and Jo Malone, is shedding twice the number of jobs than planned, pointing to uncertainty around US President Donald Trump’s tariffs as cause for concern.
The US multi-national was already restructuring the business to tackle its flagging performance, but now says job losses could reach 7,000.
The outlook for firms that trade globally has got tougher in recent days as Trump launched his promised programme of import taxes, including additional tariffs on China.
However, tariffs targeting Canada and Mexico were suspended at the last minute, for 30 days.
The company, which also owns Bobbi Brown, Aveda and Tom Ford, said it needed to save around $1bn (£805m) as it managed “the risk of recession… including the imposition of tariffs and sanctions”.
“The company is significantly transforming its operating model to be leaner, faster, and more agile,” said chief executive Stéphane de La Faverie.
The firm said rising inflation had driven up costs.
Estee Lauder employs around 62,000 people worldwide, and said the final figure of job losses would be between 5,800 and 7,000, with some staff redeployed in new roles.
The cosmetics giant reported a $650m (£518m) pre-tax loss for the three months to 31 December as people spent less in China and Korea and at airports in Asia. That compares to a profit $519m in the same period the year before. Total sales fell by 6% to $4bn.
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