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National Candle Maker Plans to Close Stores, Lay Off Staff

Newell Brands aims to save $110–130 million annually by cutting 900 jobs and closing 20 Yankee Candle stores amid sales declines and tariff impacts.

  • Newell Brands said Monday, Dec. 1 it will lay off approximately 900 global professional and clerical employees, cutting about 10% of staff with U.S. layoffs starting this month.
  • Executives pointed to tariffs and trade disruptions when Q3 performance showed sales and margin declines, and the company’s 2023 turnaround plan followed shares falling nearly 62% this year amid low visibility and high debt.
  • Newell expects to incur about $75 million to $90 million in severance and related costs, while the plan will save roughly $110 million to $130 million annually.
  • The company will also close about 20 Yankee Candle stores in the U.S. and Canada by January next year, representing roughly 1% of brand sales with limited manufacturing impact.
  • At quarter end the company had $4.8 billion in debt and shares down nearly 62% this year, with plans to increase automation and artificial intelligence.
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  • 62% of the sources are Center
62% Center

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retaildive.com broke the news in on Monday, December 1, 2025.
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