Press release
Newell Brands Announces Global Productivity Plan to Strengthen Competitiveness and Deliver Greater Value for Consumers
Initiative Accelerates Strategic Progress, Enhances Efficiency and Sharpens Focus on Driving Long-Term Value Creation ATLANTA--(BUSINESS WIRE)-- Newell
About this update from Newell Brands Inc.
[{"type":"text","content":"\nInitiative Accelerates Strategic Progress, Enhances Efficiency and Sharpens Focus on Driving Long-Term Value Creation\n\n ATLANTA--(BUSINESS WIRE)--\nNewell Brands (NASDAQ: NWL) today announced a global productivity plan designed to strengthen the company’s competitiveness, deliver greater value for consumers and drive long-term value creation. The plan underscores the company’s disciplined execution, confidence in its strategic direction and commitment to building a more agile and high-performing organization.\n\nAs part of the plan, the company will reduce its global workforce by over 900 employees (approximately 10% of professional and clerical employees), with limited impact on manufacturing or supply chain operations. Professional and clerical separations in the United States are largely expected to occur this month, with international actions continuing through 2026, subject to local law and consultation requirements.\n\n“We’ve made meaningful progress executing our strategy and strengthening Newell Brands, but there is more work to do,” said Chris Peterson, President and Chief Executive Officer. “This productivity plan is about taking the next, disciplined step to enhance efficiency, sharpen our strategic focus, and deliver stronger, more consistent performance. Ultimately, our goal is to deliver greater value for consumers and create sustained long-term value for our shareholders.”\n\nBuilding on the company’s turnaround strategy launched in 2023, the productivity plan will raise performance standards, simplify processes, streamline overhead, and redirect resources to the highest-value activities. The plan is enabled in part by the company’s use of automation, digitization, and artificial intelligence to simplify operations, accelerate decision-making, and strengthen execution across functions. These initiatives will enable Newell to further invest in innovation, brand building, and growth in a dynamic consumer environment.\n\nAs part of this effort, Newell Brands will close approximately 20 Yankee Candle® stores in the United States and Canada which, collectively, represent roughly 1% of brand sales, with closures expected to take effect in January 2026. This retail optimization aligns the brand’s footprint with modern consumer shopping behaviors and supports its multi-channel growth strategy.\n\nThe company expects t...