Newell Brands to Lay Off 900+ Employees, Close 20 Yankee Stores

Newell Brands, the parent company of Yankee Candle and other consumer goods brands, announced on Monday that it will lay off more than 900 employees globally and close 20 Yankee Candle stores across the United States and Canada as part of a cost-cutting productivity plan.

The layoffs, affecting about 10 percent of the company's professional and clerical workforce, are set to begin this month, with most U.S. cuts occurring in December. International reductions will follow over the next year. The store closures, representing roughly 1 percent of Yankee Candle's total sales, are scheduled for January 2026. Newell Brands, based in Atlanta, has not disclosed which specific locations will shutter, though the moves aim to align the brand's retail footprint with evolving consumer shopping habits, such as increased online purchasing.

The initiative builds on a broader turnaround strategy launched in 2023 to address slowing sales and operational inefficiencies. Newell Brands reported a more than 7 percent drop in third-quarter sales compared to the previous year and has seen its shares decline nearly 62 percent over the past year. To boost productivity, the company plans to expand its use...