BUZZ-Newell Brands up after Sharpie maker announces 900 job cuts
Newell Brands Inc NWL | 3.53 | +2.92% |
** Shares of Newell Brands NWL.O up about 2% at $3.72
** The Sharpie maker will cut 900 jobs, or 3.8%, of its global workforce and take up to $90 million in restructuring charges
** The restructuring effort is expected to bring in annualized cost savings of about $110 million to $130 million
** Co says it will close about 20 Yankee Candle stores in the U.S. and Canada by January next year
** Including session's moves, NWL down 63% YTD
(Reporting by Sanskriti Shekhar in Bengaluru)
((Sanskriti.Shekhar@thomsonreuters.com))
