JACKSON, NJ – Yankee Candle’s parent company, Newell Brands, announced Monday it will shut down 20 of its retail stores and lay off more than 900 employees in North America as part of an ongoing effort to streamline operations and reduce costs.
The company said the job cuts, representing about 10 percent of its total workforce, will begin this month. The affected stores are located across the United States and Canada, though Newell has not disclosed which locations will close.
Yankee Candle, known for its signature scented candles and holiday gifts, operates a dozen stores in New Jersey, including shops at Freehold Raceway Mall, Jackson Premium Outlets, Bridgewater Commons, Paramus Park, and Deptford Mall.
Layoffs part of broader efficiency plan
Newell Brands, headquartered in Atlanta, said the workforce reduction is part of a broader productivity initiative launched in 2023 to strengthen financial performance. The company’s plan focuses on expanding automation, digitization, and artificial intelligence to improve decision-making and operational efficiency across its global business lines.
President and CEO Chris Peterson said in a statement that while progress has been made in the turnaround strategy, more steps are necessary to stabilize growth. “This productivity plan is about taking the next, disciplined step to enhance efficiency, sharpen our strategic focus, and deliver stronger, more consistent performance,” Peterson said.
Company continues turnaround efforts
Newell Brands, a publicly traded company whose portfolio includes Oster, Sunbeam, and Paper Mate, has faced sluggish sales and mounting costs in recent years. The firm began restructuring in 2023 to simplify its operations and focus on its strongest-performing brands.
The closure of 20 Yankee Candle stores marks the latest in a series of moves by the company to consolidate retail operations and shift attention toward e-commerce and direct-to-consumer channels.
Despite the cuts, Newell said its long-term goal remains to “build a more agile and efficient organization” capable of adapting to changing market demands.