NWL to Cut More Than 900 Jobs & Shut Stores, Unveils Productivity Plan

Core Insights - Newell Brands Inc. (NWL) is implementing a global productivity plan aimed at enhancing operational efficiency, profitability, and long-term competitiveness through disciplined execution of productivity, simplification, and innovation initiatives [1][9] Workforce Reduction - The company plans to reduce its global workforce by over 900 employees, which constitutes nearly 10% of its professional and clerical staff, with limited impact on manufacturing or supply-chain functions [2] - Professional and clerical separations in the United States are expected to occur within the current month, with similar efforts continuing internationally through 2026, subject to local laws [2] Productivity Plan Details - The productivity plan is designed to elevate performance standards, streamline processes, optimize overheads, and redirect resources to high-value operations, leveraging automation, digitization, and Artificial Intelligence [3][7] - Newell will close approximately 20 Yankee Candle stores in the U.S. and Canada, representing about 1% of brand sales, to align with modern shopping patterns and enhance its multi-channel growth strategy [4] Financial Implications - Management anticipates pre-tax restructuring and related charges of approximately $75-$90 million, primarily for severance costs, most of which will be recognized by the end of 2026 [5] - Once fully executed, the productivity plan is expected to generate annualized pre-tax cost savings of $110-$130 million [5] Sales Guidance - Newell has reaffirmed its guidance for fourth-quarter 2025 normalized operating margin, earnings per share, and operating cash flow, while expecting net and core sales to be at the lower end of the previously issued guidance range due to slower-than-anticipated sales trends in Latin America [6]