The parent company behind iconic brands like Yankee Candle and Sharpie has unveiled a major restructuring plan that will see dozens of stores shuttered and hundreds of employees made redundant. Newell Brands confirmed on Monday that it will close about 20 Yankee Candle stores across the United States and Canada and reduce its global workforce by more than 900 positions.
A Strategic Shift to Align with Consumer Habits
In a press release issued on Monday, 2nd December 2025, Newell Brands framed the decision as a necessary step to modernise its operations. The company stated the move "aligns the brand’s footprint with modern consumer shopping behaviours" and supports a broader multi-channel growth strategy. The affected Yankee Candle locations, set to close in January, reportedly account for only about 1 percent of the brand's total sales.
This initiative is part of a new global productivity plan, building on a turnaround strategy the company began in 2023. CEO Chris Peterson acknowledged progress but emphasised the need for further action. "We’ve made meaningful progress executing our strategy and strengthening Newell Brands, but there is more work to do," he said.
Details of the Job Cuts and Financial Impact
The job reductions are substantial, targeting over 900 employees, which equates to roughly 10 percent of Newell Brands' professional and clerical staff globally. The company indicated that the majority of US-based job cuts are expected to take place in December 2024. It was clarified that the reductions would have "limited impact on manufacturing or supply chain operations."
Financially, the restructuring will incur costs of up to $90 million, primarily for severance payments. However, Newell Brands projects annual savings of up to $130 million once the plan is fully implemented. The company also plans to leverage artificial intelligence to help simplify its operations as part of this efficiency drive.
Broader Context and Market Performance
This decisive action follows a challenging period for the consumer goods giant. According to reports, shares of Newell Brands have fallen nearly 62 percent this year. In October, the company posted third-quarter net sales of $1.8 billion, a decrease of 7.2 percent from the same period the previous year.
CEO Chris Peterson framed the plan as a disciplined effort to sharpen the company's focus. "This productivity plan is about taking the next, disciplined step to enhance efficiency, sharpen our strategic focus, and deliver stronger, more consistent performance," he stated. The ultimate goal, according to the company, is to strengthen competitiveness and deliver greater value for both consumers and shareholders.
For shoppers, the news means fewer opportunities to visit dedicated Yankee Candle stores to sample popular seasonal fragrances like Christmas Cookie and Sparkling Cinnamon in person. The move signals a continued pivot for retailers towards omnichannel sales strategies in response to evolving market demands.
