Blaming weak sales in China and duty-free markets, The Estée Lauder Cos. approved 3,200 job cuts. The company signaled it could reduce headcount by another 3,800 with expected restructuring charges of up to $1.6 billion. The restructuring is expected to be completed by the end of 2026. “The Company now estimates a net reduction in positions of 5,800 to 7,000, including approvals to date. This net reduction takes into account the elimination of positions after retraining and redeployment...