The company is offering a 38% wage increase over four years in its latest proposal. That is up from its original offer of 25%, which was overwhelmingly rejected by a union local representing machinists.
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Estee Lauder withdrew its outlook for the current year, citing uncertainty around the pace of recovery the China and Asia travel retail markets, as well as recent leadership changes.
The European Commission, the EU’s executive arm, said it had opened formal proceedings against the Chinese e-commerce platform to assess whether it may have breached Europe’s digital services regulations.
