LOUISVILLE, Ky. — 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 American whiskey producers face stiff challenges from changing consumer trends and renewed tariff threats.
The actions are projected to produce about $70 million to $80 million in annualized cost savings, a portion of which is expected to be reinvested as part of the company’s growth strategy, said Louisville-based Brown-Forman, whose flagship brand is Jack Daniel’s Tennessee Whiskey.
The company’s cooperage, where barrels are made to store and age its spirits, will close by April 25, affecting about 210 hourly and salaried employees, it said. The closure is part of the overall 12% reduction in the company’s 5,400-employee global workforce. Brown-Forman said it will source barrels from an external supplier and expects to receive more than $30 million from selling cooperage …