Estee Lauder (NYSE:EL) announced this morning, in conjunction with its quarterly results, that it would be laying off between 3% and 5% of its staff in order to reduce its expenses. Along with the Estee Lauder layoffs, the firm provided much weaker-than-expected guidance for its current quarter and its current fiscal year. However, the firm’s quarterly results came in well above analysts’ average estimates. EL stock is climbing sharply on the news. More About the Estee Lauder Layoffs EL will eliminate up to ...