“There Is More Work To Do”: Newell Brands Cuts 900 Jobs, Closes Canadian Yankee Candle Stores

What’s Going On At Newell Brands?

Newell Brands — parent company of Yankee Candle, Rubbermaid, Sharpie and Elmer’s — is cutting over 900 jobs globally and closing 20 Yankee Candle stores across Canada and the US as part of its latest restructuring initiative (Wall Street Journal).

• Canadian locations are included in the 20-store closure plan scheduled for early 2026, though specific store names have not been released.
• The layoffs represent 10% of Newell’s professional and clerical workforce and will begin in the US this month, with international cuts, including Canada, continuing through next year.
• Store closures will hit about 20 Yankee Candle locations in the US and Canada early next year — stores that account for just 1% of Yankee’s total sales (WSB Radio).
• Newell operates about 240 retail locations, with the vast majority under the Yankee Candle Brand.

Why It Matters for Canada

Newell Brands’ retail footprint in Canada is modest but strategic — and these closures signal the company’s broader pullback in response to declining North American consumer demand, inflationary pressures, and shifting retailer behavior.

• Yankee Candle stores generate about 1% of brand sales but are largely leased locations, making them easier targets for cost reduction.
• With many Canadian households familiar with the brand through malls and stand-alone stores, the closures mark the latest retail contraction affecting Canadian consumers and workers.

Inside Newell’s Cost-Cutting Plan

Newell Brands expects this restructuring to:

• Save $110 million to $130 million annually
• Result in $75 million to $90 million in severance and restructuring charges, with costs recognized through 2026.

CEO Chris Peterson, who began leading the turnaround in 2023, said:

“This productivity plan is about taking the next, disciplined step to enhance efficiency, sharpen our strategic focus, and deliver stronger, more consistent performance”.

This move comes weeks after Newell cut its full-year financial forecast, citing unexpected consumer pushback to price increases and the financial hit of higher tariffs.

The Bigger Picture

Newell has faced increasing financial strain:

• Q3 net sales dropped more than 7% year over year.
• Gross margin shrank to 34.1% from 34.9%, further squeezing profitability.
• Tariffs imposed over the past year are expected to cost Newell $180 million in 2025, well above earlier projections.
• The company is also carrying $4.8 billion in debt, which analysts say is limiting turnaround options.

In 2024, Newell laid off 100 workers at its distribution operations, indicating that the current layoffs are part of a deeper trend.

📺 WATCH: Everything You Need to Know About Mass Terminations

Lost Your Job? Get Help Now

📞 Contact Samfiru Tumarkin LLP: 1-855-821-5900 or request a consultation online.

Our experienced employment lawyers in Ontario, Alberta, and British Columbia (BC) have helped tens of thousands of non-unionized individuals resolve their workplace issues, including wrongful dismissals.

If you’ve lost your job at Newell Brands for any reason, don’t panic. We can review your situation, assess your legal options, and help you secure the compensation you’re legally entitled to.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and should not be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.