Newell Brands up after Sharpie maker announces 900 job cuts

Newell Brands

01/12/2025 15:33

** Shares of Newell Brands NWL.O up about 2% at $3.72

** The Sharpie maker will cut 900 jobs, or 3.8%, of its global workforce and take up to $90 million in restructuring charges

** The restructuring effort is expected to bring in annualized cost savings of about $110 million to $130 million

** Co says it will close about 20 Yankee Candle stores in the U.S. and Canada by January next year

** Including session's moves, NWL down 63% YTD

 (Reporting by Sanskriti Shekhar in Bengaluru)

 ((Sanskriti.Shekhar@thomsonreuters.com))