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.

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.

Estée Lauder on Tuesday announced plans to cut thousands of jobs and speed up its product development to reclaim relevance in higher-end beauty, after the company swung to a quarterly loss and offered a dimmer outlook amid wobblier shopper sentiment in Asia.

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.

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.

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

The company anticipates restructuring and other charges of between $1.2bn and $1.6bn as it overhauls the business.