Estée Lauder to lay off 3,000 more employees, total layoffs reach 10,000 to support its revitalization plan

The company, which owns the brands La Mer and The Ordinary, announced on Friday that the scale of layoffs will now reach up to 10,000 positions—an increase from the target of 7,000 announced a year ago. According to the official website of a certain exchange, the company employs approximately 57,000 people worldwide. In pre-market trading in New York, the company's shares rose as much as 16%. As of the close of the most recent trading day, the stock has fallen 27% so far this year.