Forman, which is expected to generate up to $80 million in annual savings, comes as inflation and changing consumer tastes cut into spirits sales.

Spirits giant Brown-Forman Corp. says it’s reducing its global workforce by about 12% and closing its barrel-making plant in Louisville.

Brown-Forman, the parent company behind major American whiskey brands Jack Daniel's and Woodford Reserve, announced that it was cutting 12 percent of its global workforce and selling its Louisville cooperage.

Spirits giant Brown-Forman Corp. said Tuesday it's reducing its global workforce by about 12% and closing its hometown barrel-making plant in Louisville. The cost-cutting moves come as

Jack Daniel’s maker Brown-Forman is slashing 12% of its workforce as more consumers cut back on their alcohol consumption, the company said Tuesday. Louisville, Ky.-based Brown-Forman – a 155 year-old company which also makes Woodford Reserve,