08:27 AM EST, 02/04/2025 (MT Newswires) -- Estee Lauder ( EL ) said Tuesday that it expects to eliminate 5,800 to 7,000 job roles as part of a restructuring plan.

The job cuts will be largely implemented in fiscal 2025 and 2026, with completion in fiscal 2027, Estee Lauder ( EL ) said in its fiscal Q2 earnings release.

The company said it estimates restructuring charges of $1.2 billion to $1.6 billion before taxes, with projected annual savings of $800 million to $1 billion.