ATLANTA — Newell Brands announced a global productivity plan today aimed at enhancing its competitiveness and delivering greater value for consumers.
The plan involves reducing the company’s global workforce by over 900 employees, which accounts for approximately 10% of its professional and clerical staff. The initiative is part of Newell’s strategy to streamline operations and focus resources on high-value activities.
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“This productivity plan is about taking the next, disciplined step to enhance efficiency, sharpen our strategic focus, and deliver stronger, more consistent performance,” Chris Peterson, President and CEO of Newell Brands, said in a statement.
The workforce reduction will primarily affect professional and clerical employees, with limited impact on manufacturing or supply chain operations.
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In the United States, these separations are expected to occur this month, while international actions will continue through 2026.
As part of its retail optimization, Newell Brands will close approximately 20 Yankee Candle stores in the United States and Canada, representing about 1% of the brand’s sales.
In Georgia, there are four Yankee Candle stores and the brand’s products are sold in many more retail locations. It is unclear if any of Georgia’s branded shops will be closed as part of the new plan, yet.
These closures are expected to take effect in January 2026.
The company anticipates recording pre-tax restructuring charges of $75 million to $90 million, mostly for severance and related costs, with most charges recognized by the end of 2026.
The productivity plan is expected to generate annualized pre-tax cost savings of $110 million to $130 million.
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