Newell Brands Plans To Reduce Office Roles By Approx. 7% - Quick Facts

(RTTNews) - Newell Brands (NWL) announced an organizational realignment. The company plans to reduce office roles by approximately 7%, with most of these actions expected to be complete by the end of 2024. The company will further optimize Newell's real estate footprint and pursue other cost reduction initiatives.

Once organizational design changes are fully executed, Newell Brands expects to realize annualized pre-tax savings in the range of $65 million to $90 million, net of reinvestment, with $55 million to $70 million expected in 2024. Restructuring and related charges are estimated to be in the range of $75 million to $90 million and are expected to be substantially incurred by the end of 2024.