Yankee Candle Owner Makes Layoff Announcement

By Hugh Cameron

U.S. News Reporter

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The parent company of Yankee Candle has announced that it will be laying off hundreds of employees and closing several stores across North America as part of a turnaround plan designed to improve efficiencies and "drive long-term value creation."

On Monday, Newell Brands said it will cut its global workforce "by over 900 employees," equivalent to around 10 percent of its professional and clerical staff.

"The plan underscores the company’s disciplined execution, confidence in its strategic direction and commitment to building a more agile and high-performing organization," Newell Brands said in a press release.

Newsweek contacted the company via email for further comment.

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Why It Matters

The tail end of 2025 has been marked by several mass layoff announcements, spanning several sectors and including many of America’s largest employers such as Amazon, Target and General Motors.

These have put 2025 on track to be one of the worst years for job cuts in a long time, according to a recent report from Challenger, Gray & Christmas. The outplacement firm tallied 153,074 job cut announcements from U.S. employers in October, the highest total for the month since 2003 and pushing this year's total to its worst level, outside of the pandemic, since 2009.

What To Know

In Monday’s news release, Newell Brands said the layoffs would have a "limited impact on manufacturing or supply chain operations." The company, which also owns Rubbermaid, Elmer’s and several other household name brands, said that the U.S.-focused layoffs are expected to occur before the end of the year, with global reductions taking place throughout 2026.

The move is part of the company’s "turnaround strategy" launched in 2023, and described at the time as an effort to "build a global, next generation consumer products company that can unleash the full potential of its brands in a fast-moving omni-channel environment."

In its most recent financial results, Newell Brands said net sales had declined 7.2 percent year-over-year in the third quarter, blamed primarily on tariffs as well as retaliatory duties imposed by other countries.

As part of its recovery strategy, the company said it will also close around 20 Yankee Candle stores in the U.S and Canada, which together represent roughly 1 percent of its sales. These closures are expected to occur in January 2026.

The company did not specify which stores would close, but told USA Today that the closures represent "our continued efforts to align with how consumers shop today."

What People Are Saying

Newell Brands President and CEO Chris Peterson said: "We’ve made meaningful progress executing our strategy and strengthening Newell Brands, but there is more work to do. 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."

What Happens Next

Newell Brands said its turnaround plan will save between $110 million to $130 million annually, but it expects to incur approximately $75 million to $90 million in restructuring charges—mainly for severance payments and "related costs."

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