Retail and Consumer Goods

Newell Brands said Monday it will lay off more than 900 employees—about 10% of its workforce—and close roughly 20 Yankee Candle stores in the U.S. and Canada early next year as part of a cost-cutting plan. The company expects up to $90 million in charges, largely for severance, and projects up to $130 million in savings while it increases automation and AI use. The moves follow Q3 results showing $1.8 billion in net sales (down 7.2% year over year) and a return to profitability with $21 million in net income.