Georgia-based parent of Sharpie and Yankee Candle to lay off hundreds
Newell Brands, the Sandy Springs-based parent company of dozens of well-known consumer brands, announced Monday it plans to lay off more than 900 global employees and close 20 Yankee Candle stores in the U.S. and Canada, citing artificial intelligence as one of the reasons behind the moves.
In its announcement, Newell said the moves were part of a “global productivity plan.” The layoffs will impact about 10% of the company’s professional and clerical staff, but have limited impact on the manufacturing and supply chain side.
“The plan is enabled in part by the company’s use of automation, digitization, and artificial intelligence to simplify operations, accelerate decision-making, and strengthen execution across functions,” the company said in a statement.
Newell is a Fortune 500 company that owns more than 50 recognizable brands, from kitchen appliances (Crock-Pot and Mr. Coffee) to home goods (Yankee Candle, Rubbermaid and Coleman) to craft products (Sharpie and Elmer’s). At the end of last year, Newell reported 23,700 employees worldwide. The job cuts announced Monday would make up about 4% of that number.
Most of the U.S. layoffs will happen this month while the store closures will take effect in January. The company did not immediately respond to a request for comment on how many employees in Georgia will be let go, or if any of the Yankee Candle closures are in the state. As of Monday morning, Newell had not filed a notice with state officials alerting them of layoffs.
Newell’s announced job cuts come on the heels of other major corporations slashing jobs with AI taking at least part of the blame. Many companies are also facing earnings pressure from a combination of tariffs and trade tension and softer than expected consumer demand.
Newell announced it expects to record pretax charges of $75 million to $90 million because of the restructuring and related charges, primarily for severance and other costs.
The moves come as Newell has been trying to turnaround slumping sales for the past two years. In 2023, the company laid off 13% of its workforce.
In October, the company lowered its profit outlook for the year. Sales in the third quarter were down more than 7% compared with the same period last year.
But this summer, Newell celebrated its new 180,000-square-foot headquarters in the Queen tower in Sandy Springs, one of the two tallest towers in metro Atlanta outside of downtown, Midtown and Buckhead. The 14.5-year lease was one of the most significant office signings of last year and was the largest inked in Atlanta’s Central Perimeter submarket since 2018.
— Staff writer Zachary Hansen contributed to this report.
About the Author
Mirtha Donastorg is a reporter on The Atlanta Journal-Constitution’s business team focusing on Black wealth, entrepreneurship, and minority-owned businesses as well as innovation at Atlanta’s HBCUs.
