Newell Brands, the maker of Sharpie and Yankee Candle, said Monday it is laying off more than 900 workers, or about 10% of its workforce, as the company seeks to cut costs.

Newell also said in a statement that it will close roughly 20 Yankee Candle stores across the U.S. and Canada early next year as part of its cost-cutting plan. The layoffs are set to begin this month, according to the Atlanta-based company. Newell's other brands include Mr. Coffee, Oster, Rubbermaid and Sunbeam.

The publicly listed company, whose shares have fallen early 62% this year amid slowing growth, launched a turnaround plan in 2023 as it tries to boost sales. The company has also said it will increase its use of automation and artificial intelligence to boost productivity.

"We've made meaningful progress e

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