---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-012746"
form_type: "8-K"
ticker: "NWL"
cik: "0000814453"
company_name: "NEWELL BRANDS INC."
filed_at: "2023-01-23T23:59:59+00:00"
generated_at: "2026-06-20T12:07:50.376462+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Newell Brands launches Project Phoenix restructuring; targets $220-250M annual savings, cuts 13% of office jobs

## Summary
- Plan consolidates five operating segments into three: Home & Commercial, Learning & Development, Outdoor & Recreation.
- Expected annual pre-tax savings of $220M to $250M; restructuring charges of $100M to $130M, mostly in FY 2023.
- Elimination of ~13% of office positions; headcount reductions begin Q1 2023, largely completed by year-end.
- New segment CEOs: Kris Malkoski (Learning & Dev), Mike McDermott (Home & Commercial), Jim Pisani (Outdoor & Rec).
- Supply chain centralized under Chief Supply Chain Officer Dennis Senovich.

## SEC filing metadata
- accession: 0001193125-23-012746
- form_type: 8-K
- ticker: NWL
- cik: 0000814453
- company_name: NEWELL BRANDS INC.
- filed_at: 2023-01-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/814453/000119312523012746/0001193125-23-012746-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/814453/000119312523012746/d449670d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-012746
- JSON: https://secwatch.observer/filing/0001193125-23-012746.json
- Plain text: https://secwatch.observer/filing/0001193125-23-012746.txt

## Key facts
- Restructurings & Charges
  NEWELL BRANDS INC. announced a restructuring with charges of approximately $100 million to $130 million affecting the Company's operating segments, real estate portfolio, supply chain, and go-to-market model (elimination of approximately 13% of the Company’s current office positions).
  - Type: restructuring
  - Charge: approximately $100 million to $130 million
  - Affected area: the Company's operating segments, real estate portfolio, supply chain, and go-to-market model
  - Headcount: elimination of approximately 13% of the Company’s current office positions
  source text: The Plan is expected to result in the elimination of approximately 13% of the Company’s current office positions. The Company expects to realize annual pre-tax cost savings of $220 to $250 million, including headcount savings, real estate savings and other bought cost reductions, in connection with the Plan when it is fully implemented. The Company will begin reducing headcount in the first quarter 2023, with most of these actions expected to be completed by the end of 2023. Decisions regarding the elimination of positions as well as the timing of separations are subject to local law and consultation requirements in certain countries, as well as the Company’s business needs. The Company estimates that it will incur approximately $100 million to $130 million in restructuring and restructuring-related charges in connection with the Plan, substantially all of which are expected to be incurred by the end of fiscal 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/814453/000119312523012746/0001193125-23-012746-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.