ESTEE LAUDER COMPANIES INC (EL): restructuring charge — Estée Lauder approves $137M in new restructuring charges; cumulative $233M

ESTEE LAUDER COMPANIES INC

Approved ~$137M in new charges for Value Chain Optimization, Enabling Function Re-Invention, and brand exits.
Cumulative restructuring charges through Jul 19 total $233M pretax ($133M restructuring, $100M other).
Actions include workforce reduction, supply chain right-sizing, and exit from unprofitable brands/markets.
Employee severance accounts for $116M of cumulative restructuring charges; asset write-offs $7M.
Total restructuring program remains within $500M-$700M range; further disclosures to follow.

item 2.05 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.7

ESTEE LAUDER COMPANIES INC announced a restructuring with charges of $500 million and $700 million (before tax).

Type: restructuring
Charge: $500 million and $700 million (before tax)

Exact text from the filing

restructuring and other charges to implement those initiatives are expected to total between $500 million and $700 million (before tax)

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ESTEE LAUDER COMPANIES INC announced a restructuring with charges of approximately $137 million (before tax) affecting supply chain, corporate functions, marketing/creative organization, unprofitable brands from specific markets and distribution channels (employee severance through a net reduction in workforce).

Type: restructuring
Charge: approximately $137 million (before tax)
Affected area: supply chain, corporate functions, marketing/creative organization, unprofitable brands from specific markets and distribution channels
Headcount: employee severance through a net reduction in workforce

Exact text from the filing

the Company expects to record restructuring and other charges of approximately $137 million (before tax) in connection with these initiatives

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.7

ESTEE LAUDER COMPANIES INC announced a restructuring with charges of $96.

Type: restructuring
Charge: $96

Exact text from the filing

in Net Sales) Cost of Sales Operating Expenses Total (In millions) Restructuring Charges Other Charges Approval Period Cumulative through April 24, 2024 $ — $ — $ 24 $ 72 $ 96 April 25, 2024 - June 30, 2024 — — 85 6 91 July 1, 2024 - July 19, 2024 1 9 24 12 46 Cumulative through July 19, 2024 $ 1 $ 9 $ 133 $ 90 $ 233 2 Included in the above table,

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.7

ESTEE LAUDER COMPANIES INC announced a restructuring with charges of $133.

Type: restructuring
Charge: $133

Exact text from the filing

through April 24, 2024 $ — $ — $ 24 $ 72 $ 96 April 25, 2024 - June 30, 2024 — — 85 6 91 July 1, 2024 - July 19, 2024 1 9 24 12 46 Cumulative through July 19, 2024 $ 1 $ 9 $ 133 $ 90 $ 233 2 Included in the above table, cumulative restructuring initiatives approved by the Company through July 19, 2024 were: (In millions) Employee- Related Costs Asset-

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2 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

ESTEE LAUDER COMPANIES INC filing history →

Source: SEC EDGAR

accession 0001001250-24-000108

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