Estee Lauder will lay off nearly two thousand people worldwide?

yes. Estee Lauder released its fiscal year 22 and fourth fiscal quarter reports on August 2th, and said it planned to lay off 1,5 to 2, people worldwide. To this news, Estee Lauder China has just responded that the layoffs will not affect the China market.

on August 2th, Estee Lauder, an American cosmetics group, released its fiscal year 22 and fourth fiscal quarter reports. In the fourth fiscal quarter ended June 3, the company's sales fell by 32% year-on-year to $2.43 billion, with a net loss of $459 million. In the whole fiscal year of 22, the company's sales decreased by 4% year-on-year to $14.29 billion, and its net profit was $68 million, compared with $1.79 billion in the same period last year.

Estee Lauder Group also said that it plans to lay off 1,5 to 2, people worldwide, accounting for about 3% of its total employees, and it is expected that 1% to 15% of its independent stores will be closed soon.

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Estee Lauder is optimistic about the China market

Regarding the global layoff plan from the headquarters, Estee Lauder China responded that the China market will not be affected by the layoff plan and will continue to increase investment in China.

"China has become the largest international market of Estee Lauder Group in the world, and it has maintained a strong growth all the time, and even resumed the double-digit growth momentum in March this year. Although the impact of the epidemic has brought a lot of turmoil to the global economic situation, it has not affected the long-term investment planning of Estee Lauder Group in China. Estee Lauder Group's commitment to the China market remains unchanged and will continue to increase investment. " Estee Lauder China said in response.

Estee Lauder and Clinique entered the China market in 1993 and set up the first sales counter in Shanghai. In July 22, Estee Lauder Group was formally established as a wholly-owned subsidiary in China. At present, Estee Lauder Group has 14 brands in China, including Estee Lauder, Mystery of Sea Blue, Charm and Clinique.

In the first half of this year, Estee Lauder Group also announced that it would build a world-class R&D center in China. At that time, Fan Jiayu, president of Estee Lauder Group in China, said, "The new world-class R&D center to be built in China will further help deepen the leading position of China's high-end beauty industry in the global scientific research field and empower breakthrough beauty innovation in China, the Asia-Pacific region and even around the world".

In June this year, the new global concepts of fragrance brands KILIAN (Quellien) and Editions de Parfums Frédéric Malle (Fumar Perfume Publishing House) owned by Estee Lauder and their first stores in China landed in Shanghai International Finance Center.

One point in Qilu-Estee Lauder will lay off nearly 2, people worldwide: the China market will not be affected and investment will be increased.