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Investing.com -- Beauty giant Estee Lauder (NYSE:EL) is undertaking a major restructuring of its regional organization, which will result in as many as 7,000 job cuts.
The company is consolidating its existing regional structure into four geographic clusters.
Nadine Graf has been appointed to lead a newly expanded geographic cluster, which will include the EMEA, the UK & Ireland team, along with a newly established Emerging Markets cluster.
Tara Simon and Amber English have been given the responsibility to oversee the Americas cluster.
Joy Fan will continue her role leading the business in mainland China. Matthew Growdon has been appointed to lead the Asia-Pacific region, with the exception of mainland China.
In addition to these changes, Estee Lauder has announced new roles within its executive team. Jane Hertzmark Hudis has been named as the Chief Brand Officer, and Roberto Canevari has been appointed as the Chief Value Chain Officer.
These changes come as part of Estee Lauder’s ongoing efforts to streamline operations and optimize efficiency within the organization. The company has not yet provided specific details on the timeline or process for the planned job cuts.
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