Newell Brands To Reduce Global Workforce
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Newell Brands announced a reduction of its global workforce by over 900 employees, about 10% of its professional and clerical staff, with minimal impact on manufacturing or supply chain operations. The company will close around 20 Yankee Candle stores in the US and Canada by January 2026. This restructuring is expected to incur charges of $75-$90 million but aims to save $110-$130 million annually. Newell Brands affirmed its fourth-quarter financial guidance but expects sales to be at the lower end of its forecast.
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