Estee Lauder will lay off between 5,800 and 7,000 employees after second-quarter sales plummeted 6% and operating income tanked to a $580 million loss.

Estée Lauder Cos. Inc.’s stock fell 6.4% early Tuesday, after the beauty and cosmetics company swung to a fiscal second-quarter loss and announced an expansion of its current restructuring aimed at restoring sustainable sales growth.

Estee Lauder now intends to slash up to 7,000 positions from its workforce, the cosmetics company, known for brands like Mac and Clinique, announced Tuesday.

Estee Lauder said it's expanding its restructuring plan to include job cuts anywhere from 5,800 to 7,000 by fiscal 2026 as the global beauty company tries to boost sales and profits.

A restructuring plan is underway to kick-start sales after the conglomerate reported a 6 per cent sales dip in Q2.

As the company’s sales fell 6 percent in the second quarter, the owner of namesake Estée Lauder, Jo Malone, Tom Ford, Clinique and more, announced plans to ramp up its restructuring program, from 3,000 to between 5,800 to 7,000.

The cosmetics company has been struggling with weak demand, especially in Asia.