The steady drumbeat of layoffs is spreading from technology companies to manufacturers, with consumer products giant Newell Brands saying it will cut 13 percent of its staff, move "to a unified global supply chain organization and centralizing manufacturing," in a process the company is calling "Project Phoenix."
Newell's brand portfolio includes Rubbermaid, Sharpie, Papermate and Graco.
"These actions are a continuation of the simplification agenda that we have driven over the last four years and in response to the difficult macro-economic environment," CEO Ravi Saligram said in a Jan. 23 announcement on its website.
Newell, based in suburban Atlanta, also will close its corporate offices in Boca Raton, Fla., once home to Jarden Corp. — the housewares company and owner of the Coleman, Sunbeam and Yankee Candle brands — that Newell purchased in 2015. Boca Raton employees will work remotely and from an office in Miami, Newell said, adding that home appliances remain a priority for the company.
In addition, Minnesota-based 3M Co. said in its quarterly report that it will cut 2,500 jobs as part of a restructuring. That work includes plans to spin off its health care business.
"In a year impacted by inflation, global conflicts and economic softening, our team took actions to position 3M for future success," said CEO Mike Roman.