THE WHAT? Smashbox and Too Faced Cosmetics are set to make several staff redundant, according to a report published by Retail Dive. A total of 59 employees across both The Estee Lauder-owned brands have been notified of layoffs.
THE DETAILS All affected staff are based in the brands’ respective offices in California and the layoffs will be effective August 15, 2023.
THE WHY? The Estee Lauder Companies did not respond to a request for comment from Retail Dive but the publication speculates that the redundancies could be connected to the brands’ sub-par performances. Too Faced delivered ‘lower than expected results’ in Lauder’s latest quarterly earnings and ELC reported impairment charges of US$86 million for Too Faced and US$21 million for Smashbox in the three months to March 31.
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Examples of aesthetics supplies include:
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Dermal Fillers: Injectable substances used to add volume and reduce wrinkles.
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Botulinum Toxin (Botox): Injectables used to temporarily relax facial muscles and reduce wrinkles.
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Cosmeceuticals: Skincare products that contain biologically active ingredients with pharmaceutical-like benefits.
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Sterilization and Disinfection Products: Essential for maintaining hygiene and preventing infections in clinical settings.
