‘One Newell’ strategy to be adopted internationally.

 

The company has announced a restructuring and savings initiative called Project Phoenix, which aims to save annualised costs of US$220-US$250 million when fully implemented. The headcount reductions will begin immediately, starting with the US and Canada.

 

The project also includes organisational changes, with Newell’s previous seven business units now being consolidated into three ‘segments’. This essentially means that Commercial Solutions, Home Appliances and Home Solutions will now form one operating segment, Home & Commercial Solutions. Writing remains linked to Baby in the Learning & Development segment, while Outdoor & Recreation is also unchanged.

 

The on-going One Newell strategy is being reinforced and will expand internationally. 

 

In the US, for example, the company is moving to a One Newell sales model for Walmart, Target and Costco. 

 

Newell’s international footprint will be reduced by the roll-out of the One Newell model in “key geographies”. Following its adoption in Canada at the end of 2022, Latin America, Australia/New Zealand, and Japan are set to follow suit. 

 

Other aspects of Project Phoenix include moving to a unified supply chain organisation, centralising manufacturing and reducing overheads on real estate.

 

“In a hybrid work environment, we have the opportunity to close or consolidate offices and adopt new ways of working,” Newell Brands CEO Ravi Saligram said.

 

“Project Phoenix will unlock savings for the company, while making us a more nimble and agile organisation and well positioned for long-term, profitable and sustainable growth,” Saligram added.

 

Newell Brands is a leading global consumer goods company with a strong portfolio of well-known brands, including Rubbermaid, FoodSaver, Calphalon, Sistema, Sharpie, Paper Mate, Dymo, EXPO, Elmer’s, Yankee Candle, Graco, NUK, Rubbermaid Commercial Products, Spontex, Coleman, Campingaz, Contigo, Oster, Sunbeam and Mr. Coffee. 

 

For more on this story and other global news from OPI go to https://www.opi.net/news/region/001-north-america/newell-to-slash-corpor...