Newell Rubbermaid To Cut Over 1,900 Jobs
The company, known for Sharpie pens and its namesake containers, said Friday that its business will be restructured under two groups, a development organization and a delivery organization.
The announcement came as the Atlanta-based company reported third-quarter adjusted results that topped Wall Street's expectations. Newell Rubbermaid also raised its quarterly dividend by 50 percent to 15 cents per share.
Now the kicker. The bean counters at the top have a great idea. Spit the company between product design and development and product delivery. And guess which side the b@st@rd has chosen for himself? How many times have we seen iconic brands destroyed because management has thought R&D was an expense and not an investment? Here's what the Manufacturing Net article says:
Newell Rubbermaid Inc. said development organization will include segments such as tools, commercial products, writing, baby and parenting, home solutions and specialty. These six segments are down from the company's previous nine.