The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20.42 - Manufacture of perfumes and toilet preparations
1,500 - 2,000 jobs Number of planned job losses
Announcement Date
20 August 2020
Employment effect (start)
1 September 2020
Foreseen end date
30 September 2022
Description
The American cosmetics group Estée Lauder has announced 1,500 to 2,000 job cuts (up to 3% of its worldwide workforce) as part of a worldwide reorganisation. The group, whose net profit has fallen by more than 60% over one year, plans to close 10 to 15% of its stores, mainly in Europe, the Middle East, Africa and North America. It is counting on digital sales to rebound. This reorganisation plan is to be spread over two years and is designed to 'address the dramatic changes in the retail landscape and consumer behaviour following COVID-19', according to the company.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
