Dec 1 (Reuters) - Newell Brands ( NWL ) will cut 900

jobs, or 3.8% of its global workforce, and take up to $90

million in restructuring charges, the Sharpie maker said on

Monday.

The company will also close about 20 Yankee Candle stores in

the U.S. and Canada, collectively representing roughly 1% of

brand sales of the scented candles, by January next year.

Consumer goods companies such as Newell have struggled with

tariff-related costs as well as weak consumer demand due to

inflation and economic uncertainties.

Newell expects to record a pre-tax charge of about $75

million to $90 million as part of the restructuring; the charges

are set to be recognized at the end of 2026.

The company said the latest job cuts affect about 10% of its

global professional and clerical employees. As of December 31,

2024, Newell employed about 23,700 people worldwide in total.

The restructuring effort is expected to bring in annualized

cost savings of about $110 million to $130 million, the company

said.

It now expects the decline in fourth-quarter net sales to be

toward the upper end of its prior forecast range of 1% to 4%, as

Latin America sales are improving at a slower rate than

expected.

In October, the company forecast a wider decline in annual

sales than previously expected and cut its profit forecast,

citing the impact from tariff costs and sluggish demand.

Newell has been in the midst of a turnaround over the last

two years as it struggles to revive sales. Its shares are down

63% this year.