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Stock impact report

Iconic gift retailer made big cuts during the holidays. Here's why [Yahoo! Finance]

Newell Brands Inc. (NWL) 
Last newell brands inc. earnings: 5/1 07:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
Newell Brands, the owner of Yankee Candle, closed stores and cut jobs during the holiday season. Many might wonder why the candle company would pull such a move heading into the holidays. Well, the reasoning behind the decision is all due to the company's global productivity plan. The idea behind the plan is “designed to the company's competitiveness, deliver greater value for consumers, and drive long-term value creation,” per the company's December press release Part of the plan includes the intention of reducing the company's global workforce by over 900 employees, which is 10% of professional and clerical employees, with little impact on manufacturing or supply chain operations. Even though most of these cuts took place in December, some were pushed back until 2026 because of local law and notice requirements. “As part of this effort, Newell Brands will close approximately 20 Yankee Candle stores in the United States and Canada, which, collectively, represent roughly Show less Read more
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