You might have noticed a significant uptick in the number of brands that have recently announced they’re closing stores and laying off workers as companies try to navigate an increasingly uncertain economic landscape that has slowed consumer spending. With the rising cost of goods and the promise of tariffs on imports, shoppers are prioritizing essentials and opting to make things themselves in favor of more frivolous spending on social commodities that promise only temporary satisfaction or one-time thrills. That means even businesses once seen as insulated from changing customer sentiment are now feeling the effects of an increasingly fickle public.
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.
? SIGN UP for Parade’s Daily newsletter to get the latest pop culture news & celebrity interviews delivered right to your inbox ?
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
Sorbis / Shutterstock.com
Related: FDA Issues Safety Warning Over Cookware for This Dangerous Reason—Here's What to Know
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.”
AI, Tariffs, and an Uncertain Economy
When it comes to the numbers, the restructuring is expected to incur approximately $75 million to $90 million in costs–primarily for severance and related expenses–according to the company. On the other side, it expects the plan to save roughly $110 million to $130 million annually. Although the parent company didn’t provide a clear reason for the decision, the news follows the current trend of companies adjusting to a changing business landscape that includes the rise of artificial intelligence, tariffs, and corporate restructuring.
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?
Related: America's Most Trusted Home Builder Is Giving Back in a Major Way This Holiday Season—Here's How You Can Help
Hence then, the article about this popular candle store is closing several stores what we know so far was published today ( ) and is available on Parade ( Saudi Arabia ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( This Popular Candle Store is Closing Several Stores—What We Know So Far )
Also on site :
- Driver dies in fiery freeway crash on Christmas Eve near Sacramento
- Trump’s Christmas Eve calls with children asking about Santa’s whereabouts are steeped in partisan politics
- Agentes de ICE dispararon a un hombre indocumentado en Maryland que, según dicen, intentó embestirlos con su camioneta