Cosmetics giant Estee Lauder is cutting 2,000 jobs -

ohnna-lee

ohnna-lee

Well-known member
This is too much
weeping.gif
 
coachkitten

coachkitten

Well-known member
It makes me sick to read everyday that more and more companies are cutting jobs. I just want the economy to get better and for people to get their jobs back. I hope that this doesn't affect anyone here that works for Estee Lauder.
 
ohnna-lee

ohnna-lee

Well-known member
Quote:
Originally Posted by coachkitten
It makes me sick to read everyday that more and more companies are cutting jobs. I just want the economy to get better and for people to get their jobs back. I hope that this doesn't affect anyone here that works for Estee Lauder.

I couldn't bring myself to read it, but in the news Barack said we might not ever get out of the recession if things aren't handled properly. That has been my fear. I am way too moody to talk about it, too sensitive right now, I broke down crying when I saw this post.
 
MzzRach

MzzRach

Well-known member
Quote:
Originally Posted by coachkitten
It makes me sick to read everyday that more and more companies are cutting jobs. I just want the economy to get better and for people to get their jobs back. I hope that this doesn't affect anyone here that works for Estee Lauder.

I feel the same. It is so hard not to be utterly depressed about the economy, things just keep getting worse, it seems.

*tries to stay positive*
 
bartp

bartp

Well-known member
Estee Lauder has super qualified employees...this is really sad news... no company likes to loose creative and talented people
 
panda0410

panda0410

Well-known member
Unfortunately its happening everywhere. BHP Biliton just announced that 6000 jobs are going to be cut as well... the recession is hurting everyone!
 
abbyquack

abbyquack

Well-known member
Aww I truly hope none of our specktralites are affected by this. I guess it's not too surprising considering all the cut backs on employee hours, the sales to move product, and the product that simply wasn't moving to begin with...sad, but keep thinking positively and we'll get through it.
 
ClaireAvril

ClaireAvril

Well-known member
I thought that since the economy was going down the sales of cosmetics were either remaining the same or increasing?

I just checked out Estee's June 2008 Financial statement - their GP/NE has been on a steady incline since 2004 see page 57 http://library.corporate-ir.net/libr...C5_EL_AR08.pdf

It's like some companies are using these times as an excuse to cut jobs to keep their profit margins high or higher. I know profit is what business is all about but its just so sad when you think about it.
 
X4biddenxLustX

X4biddenxLustX

Well-known member
Omg, this is just so sad and terrible. I cringe everytime I hear about another business going bankrupt and employers losing their jobs and huge job cuts.

I kind of just wish I could fast forward to when things start getting better, cause they really are that BAD now.

I got hired at Macy's but got screwed over and ended up not being able to keep that job and was really disappointed. But my dad just told me last night that on the news he heard that a ton of people from Macy's are being cut and that I most likely wouldn't even of made it very long there anyways. He keeps telling me that my unemployment isn't my fault completely because of how things are now these days but it still doesn't make the situation any better does it?

And I hope that no one on here or their loved ones or friends are part of the cut!
 
ohnna-lee

ohnna-lee

Well-known member
Quote:
Originally Posted by ClaireAvril
I thought that since the economy was going down the sales of cosmetics were either remaining the same or increasing?

I just checked out Estee's June 2008 Financial statement - their GP/NE has been on a steady incline since 2004 see page 57 http://library.corporate-ir.net/libr...C5_EL_AR08.pdf

It's like some companies are using these times as an excuse to cut jobs to keep their profit margins high or higher. I know profit is what business is all about but its just so sad when you think about it.

It is true that people will afford themselves a lipstick for a pick me up... but I have been noticing the people that aren't posting anymore, the ones who don't do the hauls they used to
cry.gif
. I spent a lot this last spring on make up, after spring I bought the Manish collection and two LE eyeliners $120 bucks for the Manish and under $40 for the liners, as opposed to my hole in pocket spending just half a year earlier. I am not the only one who has cut back, multiply this thousands over and reality starts to hurt.

I think some companies are playing it safe or playing it smart. They are tightening their belt straps and hunkering down for what might be worse then The Great Depression, some see it coming. It will come if things aren't done quickly, my opinion is that we are too deep in the hole already and millions of dollars have gone unaccounted for into unnecessary hands. I'm frightened and I am pissed. This should have never been allowed to happen, there were way too many people to go through for something of this magnitude to happen.


EDITED:
"I do not believe however that they are using it as an excuse." Disregard this, I reread and reread it again and it made no sense! So I am rightfully pitching it to the side, but leaving it here in quotes for those who saw it earlier.
 
Janice

Janice

Well-known member
Quote:
Originally Posted by ClaireAvril
I thought that since the economy was going down the sales of cosmetics were either remaining the same or increasing?

I just checked out Estee's June 2008 Financial statement - their GP/NE has been on a steady incline since 2004 see page 57 http://library.corporate-ir.net/libr...C5_EL_AR08.pdf

It's like some companies are using these times as an excuse to cut jobs to keep their profit margins high or higher. I know profit is what business is all about but its just so sad when you think about it.

This theory pretty much spot on, many companies are "right sizing" to avoid potential losses in future earnings. I'd say Estee is pretty much the Toyota of cosmetics if they are feeling a pinch it's an indicator of the industry aka the "Lipstick Index" is looking pretty grim. While a cutback in staffing is extremely tragic for the employees being released, it IS a reasonable long term strategy to sustain profitability.
 
KristyVictoria

KristyVictoria

Well-known member
Quote:
Originally Posted by ClaireAvril
I thought that since the economy was going down the sales of cosmetics were either remaining the same or increasing?

I just checked out Estee's June 2008 Financial statement - their GP/NE has been on a steady incline since 2004 see page 57 http://library.corporate-ir.net/libr...C5_EL_AR08.pdf

It's like some companies are using these times as an excuse to cut jobs to keep their profit margins high or higher. I know profit is what business is all about but its just so sad when you think about it.

They're cutting jobs before cutting profit margins. It's disgusting.
 
xStarryEyedX

xStarryEyedX

Well-known member
this is so sad... i'm starting to look for jobs in doctors offices instead of makeup counters for this exact reason... as much as we hear about the lipstick effct, that's totally not the case in my area. people here have money, but they are smart with it so they don't spend it (if they come in for one foundation you're not going to add on a brush/blush/primer etc. it's just not going to happen.)... i'm starting to freak out at my job because we're just not pulling in numbers...they just got rid of my store manager and brought in a new one, like that's going to make things better... people still aren't going to spend their money. i know these companies are businesses and they have to watch their asses...but i wish they were slightly more concerned for us.
 
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