Estee Lauder lays off 2,600 workers, out of its 7,000 target, as sales drop

Estee Launder Cos. on Thursday said it's moving ahead with plans to cut up to 7,000 jobs as it deepens its head-count reduction efforts, while reporting a 10% drop in third-quarter sales. Estee Lauder said it had already approved $623 million in severance costs and cut more than 2,600 positions...