ESTEE LAUDER COMPANIES INC (EL): restructuring charge — 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.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

ESTEE LAUDER COMPANIES INC announced a restructuring with charges of restructuring and other charges of approximately $122 million (before tax) affecting geographic regions, supply chain, research and development, marketing and creative organization, various corporate functions (employee severance through a net reduction in workforce).

Type: restructuring
Charge: restructuring and other charges of approximately $122 million (before tax)
Affected area: geographic regions, supply chain, research and development, marketing and creative organization, various corporate functions
Headcount: employee severance through a net reduction in workforce

Exact text from the filing

through a net reduction in workforce. Once the relevant accounting criteria have been met, the Company expects to record restructuring and other charges of approximately $122 million (before tax) in connection with these initiatives, which other than the non-cash charges, are expected to result in future cash expenditures funded from cash provided by

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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 0001001250-24-000263

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