Estee Lauder Cos., the maker of Clinique and Bobbi Brown cosmetics, said it will cut 2,000 jobs as declines in makeup and perfume sales reduced second-quarter profit.
The job cuts, which represent 6 percent of the workforce, will occur over the next two years. That and other measures, including inventory reduction and a freeze on hiring and merit raises, will reduce expenses by $450 million to $550 million over the next four years, the company said.