Estée Lauder approves $122M additional restructuring initiatives; cumulative charges $479M

ESTEE LAUDER COMPANIES INC

PRGP restructuring program now expects initiatives totaling ~$122M (pretax) approved since Oct 25, 2024.
Cumulative restructuring charges through Dec 18, 2024: $479M, within previous $500-700M range.
Initiatives include workforce reductions in regions, supply chain, marketing, and corporate functions.
Employee-related costs account for $338M of cumulative charges; non-cash asset write-offs also included.
Restructuring funded from operating cash; aims to rebuild gross and operating margins by FY2026.

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