NEW YORK (CBSNewYork) — Cosmetics giant Estee Lauder has announced major changes due to the coronavirus pandemic.

The New York-based company plans to close at least 10% of its stores and lay off up to 2,000 employees.

Estee Lauder says it’s working on a two-year plan to adjust its investments after losing revenue during the pandemic.

The company says it will also focus on its digital capabilities, advertising and promotions.

You can get the latest news, sports and weather on our brand new CBS New York app. Download here.

Comments

Leave a Reply