Estée Lauder to Cut 3,000 More Jobs as CEO Pushes Overhaul (2)

Estée Lauder Cos.plans to cut as many as 3,000 more jobs and generate a further $200 million of savings to help boost its turnaround plan.

The owner of the La Mer and the Ordinary brands said Friday as many as 10,000 roles will now go, up from its previous target of 7,000 announced a year ago. Estée Lauder has a global workforce of about 57,000, according to its website.

Estée Lauder’s shares rose as much as 13%. The stock had fallen 27% this year, compared with a gain of about 5% for the S&P 500 Index.

The results confirm ...