NEWELL BRANDS INC. (NWL): restructuring charge — Newell Brands approves restructuring; expects $65M-$90M annualized savings

NEWELL BRANDS INC.

Office roles reduced by ~7%; actions substantially complete by end of 2024.
Annualized pre-tax savings of $65M–$90M, net of reinvestment; $55M–$70M expected in 2024.
Restructuring charges estimated $75M–$90M, mostly cash severance ($60M–$70M).
Cash expenditures of $70M–$80M; office space reduction charges $11M–$16M.
Plan centralizes retail, digital, HR teams and optimizes real estate footprint.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

NEWELL BRANDS INC. announced a restructuring with charges of approximately $75 million to $90 million affecting global organizational realignment (reduce its office roles by approximately 7%).

Type: restructuring
Charge: approximately $75 million to $90 million
Affected area: global organizational realignment
Headcount: reduce its office roles by approximately 7%

Exact text from the filing

The Company estimates that it will incur approximately $75 million to $90 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 2024.

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NEWELL BRANDS INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-003974

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