Estée Lauder Surges Most Since 2011 on Plan for Job Cuts (2)

Estée Lauder Cos. said it’s cutting as many as 3,000 positions as part of a restructuring plan to put one of the world’s largest beauty companies back on track.

The shares jumped as much as 19%, the most since November 2011, in New York trading.

The owner of the Ordinary and Clinique brands has a global staff of around 62,000 and said Monday that it’s eliminating 3% to 5% of those jobs.

As a result, Estée Lauder expects to take restructuring and other charges of between $500 million and $700 million, before taxes. The company now expects the job cuts ...