Although it’s not a new phenomenon by any means, it’s hard to ignore the fact that it feels like we’re watching the very system of capitalism fail right before our eyes. Okay, that might be a bit of a reach, but still. In recent weeks, we’ve seen Tyson Foods close one of its largest beef processing plants in the United States, and Target announce massive layoffs in a sweeping move to right-size its business and operate more effectively in an increasingly unpredictable economy. Brands from Panera to Cracker Barrel are reviewing their strategies to stay competitive, and it seems like more and more companies are filing for bankruptcy.
While there are some companies like Red Lobster that have been able to pivot and claw themselves out of the annals of financial ruin, things are still a bit touch-and-go for a lot of other brands. In fact, the latest brand to find itself faced with the difficult decision to close stores and lay off staff is one that typically gets a boost around the holidays, and we can only anticipate that this is just the beginning. On Monday, December 1, Newell Brands, the parent company behind Rubbermaid, Sharpie, and Yankee Candle, announced that it would be laying off nearly 10 percent of its global workforce—about 900 people.
Yankee Candle Parent Company Announces Store Closures and Layoffs
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In addition to the job cuts, the company also shared in a news release that it would be closing 20 Yankee Candle stores in the United States and Canada as part of what it called a “global productivity plan.” So far, the company hasn’t divulged which locations are set to close, but it did note that the layoffs are set to start in December and will include a mix of clerical and professional staff that will have “limited impact on manufacturing or supply chain operations.” And according to a spokesperson for the company, the closures represent “roughly one percent of the brand’s sales and reflect our continued efforts to align with how consumers shop today.”
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By some estimates, 2025 has been the worst year for layoffs since 2009, and a few experts expect that trend to continue into 2026. Here’s hoping that things cool off sooner rather than later. On the bright side, once we know what stores are closing, that definitely means deals on some of our favorite scents. Silver linings and all that, you know?
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