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

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

Forman said on Tuesday it will lay off about 12% of its global workforce of 5,400 employees, as the Jack Daniel's maker looks to reduce costs amid weak alcohol demand. The company has struggled with high input costs,

Brown-Forman is cutting about 12% of its global workforce, the maker of Jack Daniel’s whiskey said on Tuesday. “This organizational evolution will simplify and streamline Brown-Forman’s structure, allowing it to become a more agile and efficient organization and reinvest in the capabilities,