{"id":14546,"date":"2023-05-27T06:19:17","date_gmt":"2023-05-27T10:19:17","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/rubbermaid-parent-newell-brands-stock-falls-3-after-company-unveils-restructuring-plan\/"},"modified":"2023-05-27T06:19:18","modified_gmt":"2023-05-27T10:19:18","slug":"rubbermaid-parent-newell-brands-stock-falls-3-after-company-unveils-restructuring-plan","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=14546","title":{"rendered":"Rubbermaid parent Newell Brands stock falls 3% after company unveils restructuring plan"},"content":{"rendered":"
\n

Shares of Newell Brands Inc.
\n NWL,
\n +3.19%<\/bg-quote>
\n dropped more than 3% in the extended session Friday after the consumer products company behind brands such as Rubbermaid and Elmer glue said it was embarking on a restructuring and savings plan intended to \u201cstreamline\u201d its North American distribution network. The goal is to improve the company\u2019s cost structure, Newell Brands said. The plan will be \u201csubstantially\u201d completed by the end of fiscal 2024, and includes goals such as reducing the number of distribution centers and automation investments. Newell said it expects to realize annual\u00a0pre-tax\u00a0cost savings between $25\u00a0million and $35\u00a0million by the time the plan is in place. It will incur in about $37\u00a0million to $49\u00a0million in restructuring and restructuring-related charges, however. That includes charges related to severance payments and to reducing its footprint. Newell also said it expects to incur in $30\u00a0million to $40\u00a0million in capital expenditures related to the project. Shares of Newell ended the regular trading day up 3.2%. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Newell Brands Inc. NWL, +3.19% dropped more than 3% in the extended session Friday after the consumer products company behind brands such as Rubbermaid and Elmer glue said it was embarking on a restructuring and savings plan intended to \u201cstreamline\u201d its North American distribution network. The goal is to improve the company\u2019s cost […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-14546","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nRubbermaid parent Newell Brands stock falls 3% after company unveils restructuring plan | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Newell Brands Inc. 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