Reported about 16 hours ago
Brown-Forman announced it will cut approximately 12% of its global workforce, affecting about 650 employees, as part of a restructuring plan aimed at reducing costs due to weak alcohol demand and high input costs. The company will also close its Louisville barrel-making facility, impacting around 210 jobs, and intends to save $70 million to $80 million annually through this initiative. Additionally, Brown-Forman is restructuring its executive team to address challenges in consumer spending.
Source: YAHOO