Newell Brands Cuts 900 Jobs, Closes Yankee Candle Stores
Update: 2025-12-02
Description
Newell Brands, the parent company of popular brands like Rubbermaid, Sharpie, and Yankee Candle, is reducing its global workforce by 900 employees, a 10% cut in professional and clerical staff. The layoffs, starting in the U.S. this December and continuing internationally next year, are part of a global productivity plan. Additionally, Newell Brands will close around 20 Yankee Candle stores in the U.S. and Canada, representing 1% of the brands sales, as part of a shift towards online and other retail channels. The restructuring is expected to cost $75-90 million but save $110-130 million annually. This move aligns with recent job cuts by companies like Amazon, General Motors, and Target, reflecting a broader economic trend of businesses reassessing their operations and workforce needs.
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