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.

Brown-Forman named new executives and said it will cut about 12% of its global workforce, or roughly 648 jobs, as it undergoes a restructuring aimed to position the company for growth amid a choppy global spirits market.

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,