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.

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.

Cosmetics giant Estee Lauder has picked senior executive Stéphane de La Faverie to take over as its CEO, the Wall Street Journal reported Monday, citing people familiar with the matter.