The Estée Lauder Companies reported on December 20, 2024, that it has incurred $366 million in costs related to its two-year restructuring plan. This amount is part of the total estimated $500 million to $700 million the company plans to incur for the initiative.
The restructuring plan is a key component of the company's strategy to address performance challenges and restore sustainable sales growth and profitability. These costs primarily consist of employee-related expenses, contract terminations, and asset write-offs.
The ongoing execution of the restructuring program demonstrates the company's commitment to operational transformation and efficiency improvements. The plan aims to yield significant annual gross benefits once fully implemented.
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