Newell Brands announced a global productivity plan to enhance competitiveness and deliver greater value for consumers.
The plan involves reducing the global workforce by over 900 employees (approximately 10% of professional and clerical employees) with limited impact on manufacturing or supply chain operations.
The company aims to streamline processes, raise performance standards, and redirect resources to high-value activities.
Global Productivity Plan
Designed to strengthen competitiveness and deliver greater value for consumers by focusing on efficiency and strategic direction.
Workforce Reduction
Over 900 employees to be separated, mainly professional and clerical, with minimal impact on manufacturing.
Retail Optimization
Closing approximately 20 Yankee Candle® stores to align with consumer shopping behaviors.
Expected Savings
Productivity plan expected to save $110-130 million annually once fully implemented.
- The plan will enhance efficiency and performance standards within the company.
- Automation, digitization, and artificial intelligence will be utilized to streamline operations and strengthen execution.
- Closure of Yankee Candle® stores aimed at supporting multi-channel growth strategy and adapting to modern consumer behaviors.
Newell Brands' global productivity plan aims to drive long-term value creation and enhance competitiveness in the consumer goods market. The strategic focus on efficiency and innovation is expected to lead to significant cost savings and strengthen the company's position.