Estee Lauder Companies’ Restructuring Targets Annual Savings Of $350M-$500M

“The restructuring program is designed to right-size and streamline select areas within our organization,” which unfortunately means headcount reductions, CFO Tracey Travis said during the firm’s fiscal second quarter presentation. Lauder is projecting a return to organic sales growth in the third quarter and fourth quarter acceleration on the strength of innovation and strategic brand investments.