One of the world’s largest cosmetics firms is in trouble.

In the Fall of 2024, Estee Lauder – parent company to major brands like Clinique and MAC lipstick – announced a planned turnaround after declining sales led the company to withdraw its forecasts and reduce its dividend.

At the time, the company – which employs around 62,000 – said it would cut 3,000 jobs to reduce millions in costs.