Newell Brands up on new plans to cut jobs

** Shares of Sharpie maker Newell Brands NWL up ~2% at $8.60 in early trading

** Co plans to reduce office roles by about 7% by the end of 2024 in an attempt to rein in costs

** Co says organizational realignment should enable operational efficiencies and cost savings, and help in freeing up funds

** Post execution of organizational changes, NWL expects to realize annualized pre-tax savings in the range of $65 million to $90 million, net of reinvestment, with $55 million to $70 million in 2024

** Co expects to incur estimated restructuring and related charges in the range of $75 million to $90 million by the end of 2024

** A year ago NWL had cut 13% jobs as a part of its restructuring and savings initiative

** In 2023, stock was down nearly 34%