With stores shut owing to the lockdown and a drop in the demand for premium make-up products and brands, Estee Lauder has forecast profit below expectations for the current quarter. The consumers’ shift in demand from make-up to skincare and to online shopping, the brand has observed a 32% fall in the fourth quarter sales. Assessing the current business status, the company further revealed that it will cut 3% of its global workforce or 1,500 to 2,000 jobs. Further, they are expecting the drop in the sales to be 12% to 13% as opposed to expected 11.42% drop.