- Newell Brands, which runs Yankee Candle, Rubbermaid, Elmer’s and other names, will lay off 900 people, about 10% of its global professional and clerical staff. U.S. cuts begin this month and those abroad will continue through next year, the company said Monday.
- In January the company will close about 20 Yankee Candle stores in the U.S. and Canada, which deliver about 1% of the brand’s sales. Most of the company’s 240 or so retail stores, including 230 in the U.S., are Yankee Candle locations; 90% are leased.
- The plan is expected to generate annualized pre-tax cost savings of some $110 million to $130 million, though it will entail $75 million to $90 million in severance and related costs until the end of next year.
Yankee Candle owner resorts to layoffs, store closures | Retail Dive
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