Shares in the Manhattan-based company, founded and controlled by New York’s Lauder family, plunged as much as 18% after Estée Lauder said it will be cutting between 5,800 and 7,000 jobs.

video FOX Business Flash top headlines for February 4 Check out what's clicking on FoxBusiness.com. Estee Lauder announced on Tuesday that it plans to slash up to 7,000 positions from its workforce.

Topline Estée Lauder will lay off between 5,800 and 7,000 employees – from 9% to 11% of its 62,000 workforce – after second-quarter sales dropped 6% and operating income swung from a $574 ...

Cosmetics company Estee Lauder announced on Monday that it plans to cut up to 5% of its global workforce in a move that is expected to affect up to 3,000 jobs.

The Estée Lauder Companies (NYSE:EL) recently appointed Lisa Sequino as President of the Makeup Brand Cluster and amended its corporate bylaws, indicating a strategic focus on leadership and ...