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Financial News

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By: TOM BRANNA

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Estée Lauder To Cut  Its Workforce by 6% Stung by a 6% decline in fiscal second quarter sales, Estée Lauder will cut 2000 jobs (6% of its workforce) over the next two years as part of a four-year restructuring program. Net sales for Estée Lauder’s fiscal second quarter ended Dec. 31, 2008 dropped 6% to $2.04 billion, while net earnings slipped 42% to $158.0 million, as compared with $224.4 million last year.     The company highlighted elements of its new, four-year strategic plan and se...

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