In this episode, Scott Becker examines recent job cuts at Estee Lauder, Workday, and Julius Baer, analyzing whether these moves signal a broader trend or isolated adjustments.
Chapter 1: What companies are cutting jobs?
This is Scott Becker with the Becker Private Equity and Business Podcast. We try and follow business and news trends and private equity trends. We try and make sure you're learning that we're learning. Today's discussion. three companies cutting jobs. We always try and watch this to see if it's a trend or if it's not very much of anything.
Chapter 2: Why is Estee Lauder cutting 7,000 jobs?
But here are three companies that just announced they're cutting jobs. And I always find this fascinating to see what people are doing and why they're doing it. And there's different reasons for all of them. First, widely reported yesterday that Estee Lauder, the makeup company, what have you, Glamour, et cetera. I'm not glamorous, but they are. It's cutting 7,000 jobs.
Chapter 3: What challenges is Workday facing?
Chapter 4: What does the job cut trend indicate?
This is Scott Becker with the Becker Private Equity and Business Podcast. We try and follow business and news trends and private equity trends. We try and make sure you're learning that we're learning. Today's discussion. three companies cutting jobs. We always try and watch this to see if it's a trend or if it's not very much of anything.
But here are three companies that just announced they're cutting jobs. And I always find this fascinating to see what people are doing and why they're doing it. And there's different reasons for all of them. First, widely reported yesterday that Estee Lauder, the makeup company, what have you, Glamour, et cetera. I'm not glamorous, but they are. It's cutting 7,000 jobs.
Their stock tanked 16% yesterday. Second, Workday, which is this fantastic company in the enterprise space, enterprise software program space, is cutting 1,750 jobs, about 8.5% of its workforce. Again, Workday is more like the Mark Zuckerberg story, trying to look for efficiency than necessarily having big problems they're trying to address. So that's so far Estee Lauder and Workday.
The third company that announced that they're cutting jobs is Julius Beer, which is a wealth management firm. And again, they're cutting about 400 positions. They extend their cost cutting program. And again, always interesting to see if this is a trend or one-offs, and that's how we sort of think about these things.
Are they things that we should be looking at in a bigger way because there's more challenges there, or are they just sort of one-off? But interesting to see very different companies, a technology company in Workday, a glamour company in Estee Lauder. Again, I don't use the Estee Lauder products, but I know they're fantastic. Just joking.
And finally, third, watching what's going on with Julia Spirit Wealth Management Firm. Always wondering if that's a sign of margins getting tougher in the wealth management business. We'll see. Thank you for listening to the Becker Private Equity and Business Podcast. Please feel free to send us topics or ideas at any time. Thank you so much for joining us.
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